ARGUS COMMENT: Cut the duty and ease the pain (From South Wales Argus)

ARGUS COMMENT: Cut the duty and ease the pain

11:36am Thursday 3rd July 2008

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LORRY drivers' warnings of wildcat action over high fuel prices is yet another symptom of the problem affecting us all.

While we do not generally support such direct action we can fully understand the anger of lorry drivers whose businesses are being crucified by the seemingly endlessly rising price of fuel.

With no let up likely in the foreseeable future, it looks as though the situation will get much worse before it gets better.

The effects are now spreading far and wide.

Food costs are up as are energy bills for the home as well as fuel for cars and lorries.

Now high street giant Marks and Spencer says its poor performance in recent months can be blamed directly on the rising cost of fuel, which it says is deterring shoppers from visiting its out of town stores.

And it might have a point.

Our dependence on oil means the rising costs are impacting on so many areas of our lives and leaving many of us no option but to cut our spending.

We are in effect being held to ransom by the oil producing countries which control the price of fuel and over which we have little control and even less influence.

But while our government is right in saying there is not a lot it can do about the rising costs internationally, it could do something to alleviate the suffering.

The government could ease the pain by cutting fuel duty which would help haulage firms compete on a level playing field with their European counterparts.

In the long run such a move would also help the economy by keeping costs down for businesses and consumers.

It would be a radical move but it would be popular and sensible.

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