Member Article

Fuel stabiliser not that complicated, says FSB

The Federation of Small Businesses (FSB) has dismissed claims that a fuel duty stabiliser is too complicated and expensive to put in place.

In a new report ‘A fuel duty stabiliser – is it really that complicated?’ the organisation argues that it is simple, affordable and crucial to allow businesses to plan.

The FSB said that by basing the stabiliser on the oil price cycle, the level of fuel duty could be calculated against a trend price for oil.

This would then be adjusted at regularly timed intervals following changes in the oil price cycle.

John Walker, National Chairman, Federation of Small Businesses, said: “Critics have said that the fuel duty stabiliser is too difficult to introduce. The FSB does not agree.

“We know that high fuel prices are having a huge impact on our members, hampering growth and in turn the economy at large. It is vital we see action now.

“A fuel duty stabiliser would give the UK’s five million small businesses the certainty and stability they need to factor in fuel costs to their business plans.”

FSB research shows that the rise in fuel duty and uncertainty over fuel prices will have a significant impact on small businesses leading them to increase prices, freeze pay or even lay-off staff.

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