Alex M Grieve
Senior Member
- Joined
- Apr 28, 2008
- Messages
- 9,388
- Reaction score
- 60
- Location
- Broom, Warwickshire
- Your Mercedes
- B Class d200 Sport Premium Plus (66)
So, it's a 2p increase in fuel prices again - "to support the national economy" said GB. Well, wouldn't it be just too easy if we could all raise our prices if business was doing badly?
One way of viewing the increase is that if we take a litre of fuel @ circa 105p, then the cost of the fuel is 35p, and the "Jooty" and resultant VAT is 70p.
Now, I accept that 70% (ish) of the cost is tax - but that is not 70% tax - it is 70p tax on a 35p product - it is 200% tax!
Discuss.
One way of viewing the increase is that if we take a litre of fuel @ circa 105p, then the cost of the fuel is 35p, and the "Jooty" and resultant VAT is 70p.
Now, I accept that 70% (ish) of the cost is tax - but that is not 70% tax - it is 70p tax on a 35p product - it is 200% tax!
Discuss.