Some good news! Fuel Duty has been frozen!
Rishi Sunak announced that the government has frozen the fuel duty at 57.95p. “To keep the cost of living low, I’m not prepared to increase the cost of a tank of fuel, so the scheduled rise in fuel duty is cancelled,” said Sunak, during the presentation of the Budget.
The pandemic has made public transport unappealing to some members of the public. Now a great deal of people travel by car as it has become the safer mode of transport. To be fair, the government had stated that people should travel in their own personal car when possible. This was a necessary step to take as public transport, as we all know, could become a breeding ground for COVID given that people would be within close proximity of each other.
This is some welcome news for driving instructors. If the fuel duty had been raised, this could have stagnated economic recovery. It would have led to an increased cost in the daily running of your business. The freeze, however, means that your profit margins will remain the same and not be eaten into by further tax.
With the average spend on petrol being anywhere between £80-£150 per week, the slightest increase in fuel prices can hugely impact your yearly expenditure.
Although the industry has suffered a lot due to the pandmeic, and the support from the government has been, let’s face it, unacceptable in many cases, this is some good news – Finally. It is certainly a step in the right direction to help financially support the driving sector. Hopefully, we can see more positive policies like this in the future.
For more information on the fuel duty free, click here