SPRING STATEMENT LIVE: Analysis and Response as it happens – will the fuel tax be cut, the NI hike diluted and more cost-of-living aid arriving?
- Chancellor Rishi Sunak will give his speech at 12.30 p.m
- Will the fuel tax be reduced? Could National Insurance increases be diluted?
- Follow the build, speech and aftermath on our live blog
Chancellor Rishi Sunak faces a difficult day with the spring declaration. It may be a sunny Wednesday, but there’s a growing storm of personal finance distress hitting households across the country.
Inflation rose to 6.2 percent in February, according to ONS data released this morning, and people are facing higher bills including energy bills, petrol prices and a Social Security hike.
Millions will be waiting to see what measures he announces to deflect some of these inflationary pressures without falling into an even bigger sovereign debt hole.
It’s a difficult balance, especially after two years of pandemic and a tragic war in Ukraine.
Spring Statement: The cost of living crisis is in focus – with a consumer price index of 6.2% in February
Follow the This is Money live blog below for the best analysis, reactions and charts from the pundits and our own journalists as it happens – as well as what you, the readers, are saying in our comments section and on social media.
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Spring statement 2022 live: Analysis and reaction during the event
Source link Spring statement 2022 live: Analysis and reaction during the event