Red diesel rebate?

[daveydiesel1]

Was told this mornin there talkin about doin away with the red diesel rebate any1 else heard this or could shed some light on it? How could we possibly afford another slap in the teeth like this?

 

[Steevo]

Tax relief on Red Diesel being scrapped in budget?

At least that is what it says in here: https://www.politicshome.com/news/uk/economy/government-borrowing/news/110227/budget-2020-rishi-sunak-axe-£3bn-business-tax-break

thefarmingforum.co.uk

 

[Ormond]

There's some threads on this, I'd say don't worry....they'll be a rebate on it if they do away with red diesel. Look at all the things that use it and the problems it would cause. Remember the ban on shooting crows etc......what will we do...then it turns tail

 

[daveydiesel1]

Didnt know about these threads as i only dwell in the machinery section lol just got me worryin alot.

 

[AF Salers]

Could well happen, put my order in to fill tanks this morning!

 

[Ormond]

Just worked out on our farm, would cost us £15000 more a year...so there would be £3000 saving on our tax bill bringing back to £12000 extra. Would be an interesting exercise how much fuel we would could save a year. Would make all these 200hp tractors flying about at silage time look a bit daft. Compactor trailers would cut out a couple of tractors leading silage....

 

[Barry7529]

If they don't do away with it they will for definite raise the tax on it. Anyway im filling the tanks before the weekend!

 

[7610 super q]

Red still available for Ag use according to the Daily Wail.

 

[Brisel]

Budget day is 11th March, so stock up before then if that's what you're going to do. Not a bad time to buy anyway if you look at the price.

 

[Steevo]

Budget day is 11th March, so stock up before then if that's what you're going to do. Not a bad time to buy anyway if you look at the price.

Very much the case - Coronavirus has really made oil cheaper. Question is whether it will keep on falling.

 

[Brisel]

Very much the case - Coronavirus has really made oil cheaper. Question is whether it will keep on falling.

OPEC have been talking about cutting production because this price is hurting them but they haven't agreed anything yet. I don't think we will see price rises for a few months yet. If you use the link and select the much shorter duration graphs you'll see the price jumping around by a couple of % either way each day. I haven't got access to the better candlestick graphs that would give a better idea of direction. I will be buying soon to top up the tanks. A couple of pence on the crude oil basis means nothing compared to doubling the cost if the rebate goes.