Red Diesel and the UK Boating Market
Posted on June 30, 2008 - Filed Under Business | Leave a Comment
Introduction
At the 1900 World’s Fair in Paris a German Dr Rudolph Diesel unveiled the world’s first compression-ignition engine capable of working on a number of fuels including peanut oil.
It was not too long before the first hydrocarbon oil duty was first imposed in 1928 by Winston Churchill, as Chancellor of the Exchequer in Stanley Baldwin’s government. Full duty was imposed on light oils, such as petrol, and a lower rebated duty on heavy oils, e.g. as diesel. However in 1935 with the development of diesel engines for cars, petrol sales declined to such an extent that in 1935 the Government applied the full rate of duty to heavy oils e.g. diesel.
Read More..>>
