Sky high fuel prices will lead to a wave of job cuts in Hampshire, according to business leaders.

The warning came after lorry drivers, cabbies and recovery vehicles from across the area travelled to London for a mass protest against the high cost of fuel.

About 30 vehicles met at Fleet services on the M3 early on Wednesday morning before travelling up to London in convoy, where they met up with hundreds of lorries, trucks and taxis from across the UK at the A40 Westway.

The convoy of slow-moving vehicles then travelled with a police escort to Westminster, where they made a noisy protest outside the Houses of Parliament.

Mark McAllister, of Aldershot company McAllisters Recovery, said the government’s policy on fuel was crippling the UK economy.

“We were paying 75p a litre for our fuel,” he said. “Now we are up to £1.30, so it has almost doubled.

“A year ago fuel costs were 12 per cent. Now it is up to 19 per cent. We have made some savings at making our vehicles more efficient, but there is only so much you can do.

“That is where all our margins are going at the moment.”

Mr McAllister said his company, which employs 60 people, had imposed a recruitment freeze while he said other businesses were shedding staff to cut their costs.