Labour: A temporary cut in VAT would mean an immediate drop in fuel prices - Woodcock | PoliticsHome | Press Release

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Labour: A temporary cut in VAT would mean an immediate drop in fuel prices - Woodcock

John Woodcock MP, Labour's Shadow Transport Minister, responding to reports this morning on the rising cost of petrol and diesel, said:

"George Osborne needs to take action in his budget. A temporary cut in VAT, which is part of Labour's five point plan for jobs and growth would mean an immediate drop in fuel prices and make a real difference to families. It would cut almost 3p off the price of a litre of petrol and help give our stalled economy the jump start it desperately needs.

"Motorists are not just being squeezed by extortionate prices at the pump, but hikes in car parking charges as councils scramble to make up the shortfall from the speed and scale of cuts to their budgets. While commuters are being hit twice as train companies get away with inflation-busting increases at station car parks on top of record fare rises."