Spring Statement 2022 – Live reaction & analysis as Rishi Sunak slashes fuel duty & National Insurance in mini budget

RISHI Sunak today laid out his plans to help families through the cost of living crisis.

The Chancellor has been under pressure to tackle issues like the energy price cap increase and soaring petrol prices following Russia’s invasion of Ukraine.

In his Spring Statement today he announced that for only the second time in 20 years, fuel duty will be cut by 5p per litre.

It’s good news for millions of motorists facing record fuel prices and a major victory for The Sun’s Keep it Down Campaign.

Meanwhile low income households will now be able to get extra help from councils as the Household Support Fund will double.

The Household Support Fund was launched in October to help Brits pay their way through winter amid a cost of living crisis.

Additionally, the Chancellor today slashed VAT on insulation.

In his statement, Mr Sunak said: “I can announce for the next five years homeowners having materials like solar panels, heat pumps, or insulation installed will no longer pay 5% VAT– they will pay zero.

You can follow minute-by-minute updates and Spring Statement reaction and analysis on our live blog below.