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Finance Bill

We are suggesting that when prices rise, that pays for a reduction in fuel duty, but when world oil prices rise there is a freeze on any duty rises that are planned, to help to ameliorate some of the worst consequences of such rises. It is not our intention to deny the Government any money by changing when the price goes down. So far this year, Brent crude has touched $60 a barrel and is averaging well over $50 a barrel. In three months, the Exchequer has made almost £1 billion more than expected, and we judge that there is plenty of room in the coffers for this limited measure to give assistance to hard-pressed hauliers and motorists. It has support from the haulage industry and from several parties in the House. It is a sensible response to a genuine problem for road users, especially those who have no option but to travel to make their living or whose livelihood is in transport and haulage.