It should also be noted that the UK is due to increase its standard VAT rate by 2.5% from 17.5% to 20% with effect from 4 January 2011. In addition, excise on petrol and auto diesel is due to increase by slightly under 1% from 1 January 2011. The overall effect of these changes will be to increase the price of petrol and auto diesel in the UK and Northern Ireland by around 4 cent per litre in early 2011.

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