Biofuels and the Budget

From "The Tax Journal": As part of the Renewable Transport Fuel Obligation, which commences this April, retailers will be compelled to blend 2.5% biodiesel or bioethanol to the fuel sold at the pump. The percentage... will steadily rise during the following years. Companies failing to comply will face a 15p fine for every litre sold. Because the cost of sourcing biofuel in the UK is very high, it may be cheaper for oil retailers to pay the 15p fine rather than blend their fuel. At any rate, the Government stands to make a hefty windfall from the usage (or non-usage) of biofuel over the next years.

From 2010, the duty on biofuels will be brough into line with that on fossil fuels (ie increased).

So much for trying to be green!

They are just thieving ba$tards....

Rob