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The road transport industry greeted Chancellor Alistair Darling’s pre-budget statement on 24 November with complete and utter dismay.
Instead of offering a lifeline to the haulage industry, operators were left counting the cost of a near two pence per litre increase in the cost of diesel.
Whilst reducing VAT by 2.5%, Mr Darling made the decision to cancel this out in our tanks by increasing fuel to make up the difference.
The private motorist will notice no difference on the garage forecourt, but hauliers, who can reclaim the VAT on diesel, will see their costs rise.
The trade associations were quick to condemn the decision.
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