AA praises Asda for not surging petrol prices as diesel approaches dreaded £2 litre milestone June 24, 2022 Motoring group the AA has praised supermarket chain Asda for preventing further fuel surges, as the price of diesel moved within 0.2p of the dreaded £2-litre. The organisation’s fuel price report showed this morning that on average, big oil firms’ forecourt reached the milestone, but it could have been much worse. The AA said while [...]
Fuel war: RAC and AA at loggerheads over price speculation June 15, 2022 As petrol prices hit a new record high, a disagreement has opened up between major motoring groups the AA and RAC about speculation on fuel pricing.
Slashing taxes on fuel would half the cost of filling up a car June 10, 2022 The cost of filling up a car in the UK would be nearly half the price if all taxes on fuel were scrapped, reveals analysis shared exclusively with City A.M. Nearly 50p of every £1 spent on filling up a car in the UK is swallowed up by tax, according to research by the TaxPayers’ [...]
Cutting taxes without reshaping state is ‘challenging’ task, former BoE chief economist says June 8, 2022 The scope to cut taxes without worsening the standard of public services delivered by the state is limited, according to one of the UK’s top economic wonks. Professor Sir Charlie Bean, 68, told Nick Ferrari’s LBC breakfast show today that it will be “challenging… to sustain significantly lower taxes” without reshaping “what the state does”. [...]
Fuel price nears record £2 as petrol costs jump 0.6p in just 24 hours June 7, 2022 Fuel prices have reached a record high of £2 per litre, going up by 0.6p in less than 24 hours. The average petrol price has soared to 178.5p per litre while diesel amounted to 185.20p, meaning it costs £98.18 and £101.86 respectively to fill up a 55-litre fuel or diesel family car. It comes as [...]
B&M looking to ease market jitters over new leadership May 29, 2022 Press Association INVESTORS will be looking for any forward-looking forecasts that they hope can lift B&M’s ailing shares as it reports its full-year results tomorrow.The recently announced departure of the company’s long-term chief executive and his family’s reduction of their shares in the firm have weighed on London-listed shares. It has meant that B&M, which [...]
UK economic headwinds cast shadow over Sunak’s cost of living support package May 24, 2022 A slowing UK economy will heap more pressure on the country’s finances, casting doubt over the scale of support chancellor Rishi Sunak will launch to help households through the cost of living crunch. That’s according to economists’ assessments of fresh borrowing figures published today by the Office for National Statistics (ONS). A combination of rising [...]
Sunak warns energy companies ‘no option is off the table’ amid calls for a windfall tax May 17, 2022 Domestic energy companies could still face a windfall tax this year, if they fail to invest in the UK's energy sector, warned Chancellor Rishi Sunak.
Diesel prices climb to record levels as cost-of-living crisis escalates May 16, 2022 Diesel prices have soared to record levels, piling pressure on motorists amid spiralling inflation and a deepening cost of living crisis.
Millions of Brits’ tax bills set to soar as fiscal drag bites May 15, 2022 Millions of Brits’ tax bills are set to soar due to chancellor Rishi Sunak freezing the thresholds at which people start paying the taxman, revealed research published yesterday. Around 6.7m people will be hit by higher rates by 2024, the year the next general election is scheduled, according to consultancy Lane Clark and Peacock (LCP). [...]