Cost of Living Increase: Impact on Households

Part of Treasury – in the House of Commons on 15th March 2022.

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Photo of Jake Berry Jake Berry Minister of State (Cabinet Office)

The cost of fuel is now an eye-watering £2 a litre in some areas, which has led to a huge VAT windfall for the Treasury. When the Chancellor thinks about his spring statement, will he look not just at cutting fuel duty but at mileage recovery rates? They have been at 45p a mile for more than a decade. Now is the time to put them up to 60p at least.