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Proceeding contribution from Lord Hammond of Runnymede (Conservative) in the House of Commons on Wednesday, 16 July 2008. It occurred during Opposition day on Fuel Duty.


Fuel Duty

I have had an exchange of notes with the hon. Member for Wolverhampton, South-West on exactly the same point while the hon. Gentleman has been speaking. He appears to be under the impression that the offsetting factor is the increase in duty in the future when oil prices go down, but the offsetting factor is the increase in Government revenues in the same time segment as a result of high market oil prices, which enable the Government to offset a decrease in fuel duty at the pumps—not between one period and another, but in the same period.


Secondary information

Type
Proceeding contribution
Reference
479 c339 
Session
2007-08
Chamber / Committee
House of Commons chamber
Subjects
Excise duties Fuels Economic situation Inflation Oil Prices Taxation
Link
View this Proceeding contribution on www.publications.parliament.uk