Posted by: Jason McCartney | December 5, 2012

Fuel Duty Increase Scrapped

logoAs a supporter of the Petrol Promise and Fair Fuel campaigns, I welcome the Chancellor’s decision in his Autumn Statement to cancel the Fuel Duty rise planned for January 2013. This will save a typical driver in Yorkshire and the Humber around £40 per year on fuel and keep it 10p per litre lower than it would have been under Labour.

I also welcome other measures announced today:

  • Raising the basic income tax threshold up to £9,440, lifting an additional 22,000 people in Yorkshire and the Humber out of income tax altogether.
  • Increasing the state pension by 2.5% next year, up to £110.15 a week, benefiting 1 million pensioners in Yorkshire and the Humber.
  • Supporting small businesses in our area with a Business Bank able to use £1bn to stimulate the market, as well as increasing the Annual Investment Allowance limit from £25,000 to £250,000 for two years.
  • More cash for our Local Enterprise Partnership and Regional Growth Fund investment.
  • Investment in our roads, including £314million to upgrade the A1 to motorway standard between Leeming and Barton.
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