Fuel Duty: Europe’s €9bn Gift to Putin & the Rich, In EU, richest drivers will receive eight times more public money than poorest.
Taxpayers face €9bn bill for fuel tax cuts skewed towards the rich Griffin Carpenter, cars analyst at T&E, said: “EU governments claim they stand with Ukraine, but instead of taxing Russian oil, they’re subsidising it with €9 billion of taxpayers’ money. There are better ways governments can help people. We could impose a tariff or tax on Russian oil imports right now.
Russia’s invasion of Ukraine has pushed fuel prices to recent highs. To appease drivers at the pump, half of EU Member States have reacted by cutting fuel taxes. This study analyses the cost of these measures to public finances and explores other ways to raise revenue and help low-income families through the energy crisis.
While this policy approach has a simplistic appeal, it also generates perverse environmental incentives and inequitable social outcomes as the rich use eight times more fuel than the poor and oil companies will adjust their prices to take a share of the tax cut. It is also an extremely expensive approach, already totalling nearly €9 billion in Member State commitments – an amount that may continue to rise if more Member States announce similar measures or if the temporary reductions are prolonged.Reverse the excise duty cuts, and at the very least declare that the cuts will not be renewed.Design income support measures focused on low and middle class families that do not incentivise oil use and car driving.
Support citizens’ efforts to reduce fuel use by cutting public transport fares, making homeworking a right, and reviewing speed limits .These recommendations provide a more equitable distribution of financial benefits by helping the poor as much as the rich and a more just means of public financing by taxing Russian oil imports.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'SNL' Taps Lizzo for April Double Duty Appearance, Plus Jake Gyllenhaal Returns After 15 Years‘Saturday Night Live’ has shared its April lineup featuring Lizzo pulling double duty and Jake Gyllenhaal returning to host after 15 years.
Read more »
Loved ones remember Pennsylvania state troopers killed in the line of duty'They braved traffic along the busy interstate to assist a citizen whose own life was in danger as he attempted to walk along the interstate roadway at night,' said Colonel Robert Evanchick, Commissioner of the Pennsylvania State Police. 'There's no greater act of selflessness.'
Read more »
Wisconsin dad wants off-duty cop charged for restraint of 12-year-old daughter at schoolA Wisconsin father wants prosecutors to charge an off-duty officer who appears to have briefly pressed his knee into his 12-year-old daughter’s neck similar to how Derek Chauvin fatally restrained George Floyd.
Read more »
Saskatoon police constable charged with common assault in alleged off-duty incidentSPS Const. Robert Webb, a nine\u002Dyear member, was the subject of an assault complaint made to RCMP on March 11.
Read more »
Crews work to contain fuel spill after tugboat runs aground in Neva StraitThe grounding ruptured one of the tug’s fuel tanks, which can hold around 13,000 gallons of diesel fuel. The state says that a sheen was observed covering an area of around 4 nautical miles, north to Salisbury Sound.
Read more »