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Finance Bill: Report Stage 2 July

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The House of Commons Report Stage began yesterday and a new clause was added to the Bill to implement the government’s decision to defer, until January next year, the 3p per litre increase in fuel duty that was planned for next month:

‘Fuel duties: rates of duty and rebates from 1 August 2012 to 31 December 2012.

'In relation to products charged with duty under HODA 1979 on or after 1 August 2012 but before 1 January 2013, that Act has effect as if the amendments made by section 20 of FA 2011 had never been made.’

The Bill is expected to complete the Commons Report Stage and receive its Third Reading today.