Fuel duty may never rise again as Conservative MPs and Labour pressure Jeremy Hunt to spend £6bn freezing the levy, ministers believe 🔴 HugoGye reports
Fuel duty may never rise again as Conservative MPs and Labour pressure Jeremy Hunt to spend £6bn freezing the levy, ministers believe.
The Chancellor is under intense pressure to step in at next week’s Budget and scrap a planned 12p-per-litreThe tax has not increased for more than 12 years as successive chancellors have decided to override the official policy of raising the rate in line with RPI inflation every year. Last year, Rishi Sunak announced a temporary 5p-per-litre cut as the cost-of-living crisis began to bite and global oil prices rose up the cost of petrol and diesel in the UK.
Prices at the pumps have since fallen back, although they remain higher than the level they were at before inflation started to bite worldwide.would add an estimated £6bn to the Government’s borrowing. Mr Hunt is not expected to announce a permanent freeze, meaning that forecasts for the public finances published by the Office for Budget Responsibility will continue to be made on the premise that fuel duty will rise year-on-year.
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