text_body: --- DIVISION TITLE ---
  
  Finance Bill &#8212; New Clause 7 &#8212; Road Fuel Regulator
  
  --- MOTION EFFECT ---
  <p>'In the Hydrocarbon Oil Duties Act 1979 (c. 5) section 6 (excise duty on hydrocarbon oil) there is inserted after subsection (1A)â
  
  (1B) The Chancellor of the Exchequer shall publish a forecast based on the expected direction of international oil prices.
  
  (1C) When the average price per litre of a fuel listed in subsection (1A) above increases by more than 3 pence over any period of six months, the Chancellor of the Exchequer shall make regulations reducing the duty rate on that fuel and that reduction in fuel duty shall be based on the increase in the cost per litre accounted for by VAT.
  
  (1D) Whenever international oil prices rise above the level estimated by the forecast made in accordance with subsection (1B) above, indexed fuel duty increases shall be frozen until the international oil prices return to the forecast level.'
  
  â[Stewart Hosie.]<p>
  
  <p>I beg to move, That the clause be read a Second time.</p>
  
  
  
  <p><i>Question put,</i> That the clause be read a Second time:&#8212;</p>
  
  <p><i>The House divided:</i> Ayes 12, Noes 351.</p>
  
  
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  