Spring Statement: Chancellor cuts income tax and fuel levy in bid to ease cost of living

In a financial statement to the House, chancellor Rishi Sunak announced support for the British people as they deal with the rising cost of living.

Announcements included a fuel levy cut of 5 pence per litre “for only the second time in 20 years” as well as a national income tax threshold rise of £3,000.

Sunak told the House of Commons that with “borrowing down and debt down, only the Conservative party can be trusted with taxpayers money”.