NI business to benefit from fuel duty delay

Northern Ireland MPs have welcomed the decision by the chancellor to postpone a planned 3p-a-litre rise in fuel duty until next January, though there were suggestions there should actually be a price cut, as well as questions as to why a rise was even considered at all.

Vernon Coaker, shadow secretary of state for Northern Ireland, said postponing the increase would "help Northern Ireland's hard pressed motorists and hauliers", while Quentin Wilson, spokesman for FairFuelUk said businesses would be relieved at the decision. 

Fuel costs form an integral part of the overall cost of many goods and services, and any increase in prices naturally results in higher overheads for businesses, which are then translated to higher prices for consumers. The current economy would have been dealt a significant blow if the fuel duty increase had been applied, but Alliance MP Naomi Long was concerned that the increase "has merely been delayed and not scrapped completely." DUP deputy leader Nigel Dodds said the government needed to go a step further and cut the price of fuel.

If you run or own a business in Northern Ireland and require legal advice in respect of any matter of commercial law, including the purchase, sale or rental of commercial property, drawing up terms and conditions, company formations, partnership agreements, or any other issue, contact one of the commercial solicitors at Wilson Nesbitt in Belfast by calling 0800 840 9295.