10 ÓCentre for Economics and Business Research The second aspect of the work investigates the economic impact of a rise in fuel duty. This looks at the impact on borrowing, on tax revenues, on the CPI, on GDP and on jobs. Cebr and other models are used to make estimates of these consequences. The second element of this part of the research estimates the longevity of any revenue effects. Revenues from fuel duties are expected to decline over time. The research shows how any revenue benefits from raising fuel duty are likely to be only temporary. 2.4. The impact of the freeze in fuel prices It is worth noting in this context that the freeze in fuel duties since 2011 has been highly successful. Cebr research has indicated that by 2018 this had reduced consumer prices by 6.7% and has boosted household expenditure by £24 billion. Arguably it would be bizarre, when a policy has proved so successful, to change it 7 . 7 The impact of the fuel duty freeze on UK prices A Cebr report for FairFuel UK September 2018
RkJQdWJsaXNoZXIy ODMyMDY=