With the increasing cost of unleaded petrol there is growing concern amongst many small business owners and sole-traders.
According to new figures published by Experian Catalist, the 119.9 pence per litre of petrol is at its highest ever average. Previously the highest unleaded petrol has
ever cost was 119.7 pence per litre, back in July 2008.
City analysts are suggesting that the weakness of the pound sterling is largely to blame for these unprecedented rises in fuel, since unfavourable monetary exchange rates are
making it increasingly more expensive to import foreign fuel.
However, British Petroleum (BP) and a number of their competitors all reported record high profits last year. It makes me question why these companies increased fuel prices during a recession and then again after recovery was announced?!
However, I suppose we need to remember that fuel tax and VAT alone make up 74.99 pence per litre, its almost as though our present government want small businesses to fail.
So, the small business owner has a lot to contend with under our present government, including:
- Lack of business finance
- Rising fuel costs
- A rise in National Insurance contributions
To top it all we have also seen a rise in taxes on alcohol, so, one more thing we will all have to cut-back on!
I actually find myself thinking that maybe things would be better under a Conservative