The Guardian has reported that:
The shadow chancellor, George Osborne, yesterday promised a radical reform of fuel duty that would have given motorists an immediate cut of between 5p and 6p a litre on the price of petrol at current rates.
The Conservatives say they would introduce what they call a "fair fuel stabiliser", which would mean the Treasury would take less tax on fuel when oil prices rose, but claw back the cash when prices fell. When the price reached 118p a litre in June, motorists would have paid only 113p. At today's diesel prices of more than 130p a litre, the savings would be higher.
The government described the proposal as "reckless", claiming it would lead to a £3bn rise in taxes elsewhere to compensate for the cut to motorists.
Let's be in candid: George Osborne is showing his continuing ability to play the tax system for political advantage. It is a neat skill whilst still opposition but it gives little indication of an ability to manage an economy. That worries me.