Fuel news and Frome motorists thinking about filling up should wait until this evening
By Susie Watkins
23rd Mar 2022 | Local News
The Chancellor has announced a 5p cut to fuel duty which will come into force at 18:00 pm tonight (March 23) and last until March next year.
It is only the second time fuel duty has been cut in twenty years.
UK fuel prices have increased at the fastest rate on record in recent weeks, with petrol rising 13p since the start of the month and diesel increasing by nearly 21p.
The cut in duty per litre will, according to the RAC, take £3.30 off the cost of filling a typical 55-litre family car.
But in terms of other cuts, the Chancellor has resisted calls to stop the planned rise in National Insurance which comes into effect in April.
However Rishi Sunak did increase the threshold at which people pay tax. From July this year individuals will be able to earn £12,570 a year without paying income tax or National Insurance.
He told the Commons : "That's a £6bn personal tax cut for 30 million people across the United Kingdom."
He also announced that for the next five years, homeowners will pay 0% VAT on energy saving materials, such as solar panels or heat pumps.
Today (March 23) inflation figures for February showed prices rising by 6.2% - the fastest for 30 years. Annual food price inflation was 5.1%, the Office for National Statistics reported - up 0.9% between January and February – the largest monthly increase since 2012.
Fair Frome later added:
"We are deeply concerned at the cost of living rises which are impacting and will only grow in April for those on the lowest incomes. Rises in utility and fuel bills, National Insurance, Council Tax and high inflation will inevitably hit those on lowest incomes hardest. When combined with a significantly below inflation rise for welfare benefits and pensions we expect to see levels of poverty and demand for our services soar. There is only so much that organisations like ourselves can achieve, even with strong local support. "
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