by Lucy Ashton
This weekend the UK Government is talking tough on “rip-off” pump prices, yet they still pocket over 50% of what drivers pay at the pumps in fuel tax.
So, how many taxes do we actually pay?
Income Tax, National Insurance, VAT, Council Tax, Capital Gains Tax, Inheritance Tax, Stamp Duty, Insurance Premium Tax, Vehicle Tax, Alcohol Tax, Savings Tax, and that’s just to name a few.
Just how much of our hard-earned money is left after the government takes its share on all Tax Burdens??
Any thoughts?
Our link shows this morning’s fuel prices, some reports saying rates have risen since then.
Joanne Stannard: They wont do anything but rub their hands for the windfall. all wind and pish as they say!
Giorgio Castelvecchi e mailed: You’ re lucky! Here in Italy taxes are so high that Italy is the second nation after France for taxes in Europe and fuel prices have always been higher than in the UK because of levies at the fuel pumps even for situations that do not exist anymore. We’ re talking about 60/70% of the fuel prices, and not because of the war!
Penny Brogan says you need to look further ahead, it’s not just fuel prices, that’s just the start. We have now been catapulted into a worldwide recession that is forecast by some to be as bad as the US great recession in 1931. (Not to mention flung headlong further down the road to agenda 2030 and the slogan ‘you will own nothing and be happy’.)
Several countries, due to the fuel shortage, are restricting movement and bringing back work from home rules (where did we see that before). But this is going to be a lot worse than that, as already factories are closing down production.
Look at what the fuel crisis impacts, everything, even if the product is not a derivative of oil, such as plastics and synthetic detergents, every product gets transported at some point. This higher fuel cost, which is not going away any time soon, if anything, it’s going to get worse, will translate to increases in the cost of everything else, again.
All economic experts are now saying we are entering a period of stagflation. A stagnant economy combined with high (hopefully not hyper) inflation. Similar to that seen in the 70’s.
I suggest you prepare for this if you can.