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FUEL duty would be slashed to help hard-pressed families deal with soaring prices, under radical Tory plans unveiled today. Shadow chancellor George Osborne promised to link tax levels to oil prices, so the Government "shared the pain" of hikes. If the measures had been implemented at the last Budget duty would currently be 5p lower - easing the impact on motorists at the pumps. Speaking on BBC1's Andrew Marr programme, Mr Osborne described the system as a "fair fuel stabiliser". "At the moment fuel duty goes up even when the price of oil goes up," he said. "So instead of Government helping you with the rising cost of living, they are actually adding to it. The Government revenue flows in because the price of oil goes up." Mr Osborne went on: "Our proposal is for a fair fuel stabiliser. What this would mean is that when the... [read full story]
