Policy Zone

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Record high oil prices are pushing businesses to the absolute edge

22/05/08 | 18:01

Commenting on today's record high oil price of $135 a barrel, Chris Hannant, Head of Policy at the British Chambers of Commerce, said:

"Record high oil prices are pushing businesses to the absolute edge. Something needs to be urgently done or increasing numbers of companies will be left with no choice but to pass extra costs onto customers.

"Sending a positive message to business would make a huge difference, and the Government should start by announcing that they are scrapping the next 2p hike in fuel duty, planned for October. The Treasury is already receiving a massive windfall from above expectation oil prices, which makes any extra fuel levy totally unjustifiable."

Ends

Media Contact:

Sam Turvey
Tel: 020 7654 5813
Email: s.turvey@britishchambers.org.uk

Notes to Editors:

The British Chambers of Commerce (BCC) is the National Voice of Local Business.
The BCC sits at the heart of a powerful nationwide network of Accredited Chambers of Commerce serving business across the UK, which employ over five million people.

Other related links: $100 oil price further undermines Treasury's case to increase fuel duty in April
[20/02/08 15:25]

Commenting on the price of oil hitting $100 a barrel yesterday; New BCC pricing model shows massive Treasury windfall from oil price increases
[18/02/08 09:21]

The British Chambers of Commerce has today released its fuel pricing model, which illustrates the staggering amount the Treasury has already made in oil revenue since last October's fuel duty hike of ...

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