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Chancellor warned to halt petrol tax hike

The Chancellor George Osborne has reportedly been urged to halt the planned petrol tax hike as soon as possible for the sake of the economy.

Industry chiefs reportedly warned that hauliers were not recruiting or investing in new fleet given fears that duty will go up again on April 1.

Mr Osborne last week indicated he may scrap the rise - but did not confirm it would not take place.

Brian Madderson, head of the RMI Petrol Retailers Association, told the National Press: “He’s got to come forward quickly and say he’s going stop it so people can plan. I speak to hauliers who aren’t taking people on or reinvesting because they’re worried. We just need to see results.”

Diesel and unleaded are at their highest price yet as climbing oil costs combine with a VAT hike and duty rise.

A typical two-car family is spending £40 a month more filling up than last year.

April’s planned duty increase would put up to 5p on pump prices.

Autotrader.co.uk reported a “significant” rise in searches for fuel efficient motors.

This was posted in Bdaily's Members' News section by Ruth Mitchell .