Fuel prices cut by 5p per litre in Chancellor's spring statement
VAT on energy saving materials is is also reduced to 0%
Chancellor of the Exchequer, Rishi Sunak, has announced a cut in fuel prices of 5p per litre in his spring statement.
The drop in price comes into effect from 6pm on Wednesday, with Mr Sunak also announcing that no VAT will be charged on energy saving materials such as solar panels and insulation.
The Chancellor didn't do much to ease fears of increased poverty due to the cost of living, despite increasing the threshold for National Insurance to £12,750.
Speaking in the Commons, he said the UK needs to prepare for "public finances to worsen, potentially significantly", as a result of Russia's invasion of Ukraine.
Scottish Cabinet Secretary for Finance, Kate Forbes, told Northsound that the spring statement "did nothing to provide immediate assistance" to households in Scotland.
Ms Forbes continued to say, "We are seeing the biggest loss in living standards since the 1950s and I don't think we saw the Chancellor rising to that occasion today."
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