UK govt cuts fuel duty by 5p a litre

by | Mar 23, 2022

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The UK government said it was cutting fuel duty by 5p per litre, at cost of £5bn, with the reduction to take effect from 6pm on Wednesday, said Finance Minister Rishi Sunak.
Delivering his Spring financial statement to parliament on the day UK inflation hit 6.2% – it’s highest level for 30 years – said the cut would remain in place for a year.

British households have been crippled with a cost-of-living crisis driven by surging food and energy prices. They also face a tax rise next month after Sunak broke a promise not to raise them as set out in the Conservative government’s last election manifesto.

Value added tax was also cut to zero on energy saving devices, such as solar panels and wind turbines.

 

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