Rishi Sunak has announced fuel duty will be cut by 5p per litre. It is the first time in 20 years the cost has been cut.
In his Spring Statement in the Commons, the Chancellor told MPs it is the biggest cut ever and will be in place until March 2023. He said that will be worth over £5bn to families and businesses. It will take effect from 6pm tonight.
The Chancellor also announced two further measures to help with the cost of living crisis. Mr Sunak told the Commons: "As energy costs rise we know that energy efficiency will make a big difference to bills. But if home owners want to install energy saving materials, at the moment only some items qualify for a 5% VAT Relief and there are complex rules about who is eligible."
