French Reduce Fuel Taxes To Combat Oil Cost Increases

Wednesday, 2. July 2008

It’s not often that I feel the urge to support our French neighbours but their government recently made a proposal to reduce fuel taxes to ease petrol and diesel price increases across the EU, something I feel is urgently needed. However, the finance ministers within the Eurogroup – those countries that insist on using Euros rather than very sensibly sticking to their currency of origin like us Brits, have blocked the proposal. I’m sure our government would have blocked it also but they weren’t invited to participate as we don’t conform to the daft idea of using Euros. I was interested, as I’m sure you are, to note the reason for the refusal. It’s because they said it may encourage car use! At current prices tipping six quid a gallon for diesel how much were they expecting the taxes to drop by? The French, like us, can be a bit bonkers but what were they likely to propose – 50p or maybe as high as £1 a gallon? Obviously, like half the European population that sort of price drop would most certainly get me to crank up the turbo on the 7 Series and embark on a trip across Europe just for the hell of it! I need to lie down for a few minutes.