Keep calm and carry on paying more at the pump
THE 2000 fuel protests, a landmark event in recent political history, received significant support in Northern Ireland, including from the Ulster Farmers’ Union, the Road Haulage Association and all five main Stormont parties.
This contributed to the pressure that caused Tony Blair’s government to back down.
However, circumstances then were very different to today.
Prices had risen primarily due to the fuel duty escalator introduced by the Conservatives in 1993, which added inflation plus 3% a year.
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Labour doubled this to 6% on entering office, but the impact was masked by a fall in underlying oil prices.
Only when OPEC cut production in 1999 to get prices up did the tax burden suddenly become apparent.
What the world now faces is a fundamental supply shortage, due to the war in the Persian Gulf.
Sinn Féin economy minister Caoimhe Archibald has called on the UK government to cut fuel taxes in response, as have the UUP, the SDLP and others.
Duty on petrol and diesel is 53 pence per litre plus 20% VAT, so there is plenty of scope for a cut, but it would not add one........
