Proposal to Cut Fuel Taxes in Europe
France’ President in response to the protests of French fishermen against the rising prices of crude oil has proposed the cutting of fuel taxes in Europe. He urged the EU to put on hold part of the VAT on fuel to deal with oil prices that have risen continually in the past weeks. The fishermen have blocked ports in France to rally against rising fuel prices. The protest was planned to reach neighboring countries. The President had said that the country can adopt some measures on its own to offset the effect of higher crude oil prices but declared that any decision to lower the value-added tax must be European.
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