Beyond Currency

22nd March 2022 - Sunak to cut fuel duty by 5p?


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"The Chancellor will publish his Spring Statement tomorrow. He is facing pressure to do more than he wants to, to help households that face historic rises in the cost of living.
One of the measures that he is apparently considering is a cut of five pence in the duty that is charged on fuel. Duty currently makes up almost fifty-eight pence of the cost of a litre of fuel.
Having been credited with almost single-handedly saving households from disaster when the first Coronavirus lockdowns took place, Sunak is concerned about being seen as the person the country turns to in times of crisis.
Far from having a light touch on the economy, Sunak is being seen as a last resort when a bailout is needed.
It is not his intention that the Government should be looked upon to supply support at times when the economy is in a downturn, irrespective of the reason.
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Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.
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