- George Osborne gives go-ahead to 3p increase in fuel duty – Mail, 21 Mar 2012
- Osborne u-turns – The Independent, 26 Jun 2012
In the 2012 Budget, George Osborne confirmed the fair fuel stabiliser. The Mail reported:
A planned rise in the price of petrol will go ahead as George Osborne refused to freeze or reduce the amount of tax motorists pay for fuel.
Despite pressure from hard-pressed motorists and businesses that rely on fuel, such as hauliers, there will be a 3.02p per litre hike in fuel duty from August.
But just three months later, the Government announced another u-turn. The Independent reported:
Petrol prices were due to go up by 3 pence in August and just this weekend the transport secretary Justine Greening insisted that the rise would go ahead.
But in a move underlining just how worried the government is about pressures on the cost of living the chancellor announced in the Commons that the rise would now be delayed until next year.
Mr Osborne said the £500 cost of the freeze would be paid for by larger than expected savings made by government departments.