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Jobs will go if fuel hits £2 per litre

Date: 12 June 2008   |   Author: Tom Webster

Jon Walden

Redundancies are expected if fuel prices hit £2 per litre according to a survey of financial directors run by leasing giant Lex.

Over a third of the directors asked (34%) expect staff redundancies should the price of fuel continue to rise.

Lex MD Jon Walden said: "The survey firmly illustrates the pressure that UK businesses are feeling as a result of rising fuel costs, and in particular the price of diesel."

However, nearly half of fleets (42%) do not have plans to make their fleet more environmentally friendly despite the price rises.

The survey also revealed 56% of respondents didn't feel they'd been given adequate notice by the Government for changes to legislation on taxation and corporate manslaughter.

It is the changes in CO2 emissions legislation that has the single greatest impact on companies according to 43% of the directors.