HARD-PRESSED motorists must not be hit by fuel duty increases to help plug the £50billion hole in the country’s finances, MPs and campaigners say. Prime Minister Rishi Sunak and Chancellor Jeremy H…
thresholds and weigh up others — like the National Insurance threshold — to bring in billions more for the Exchequer and help plug the huge black hole in Britain’s finances.will be prioritised by Mr Sunak in return for reform amid wider cutbacks.
He discussed the matter at the weekly Cabinet meeting yesterday, indicating the health service would be exempt from cuts but improvements must be found.Extending the freeze on tax thresholds would raise £5billion but put millions on higher rate.Raising energy giants’ windfall tax from 25 to 30 per cent would be popular with voters.: Hiking pensions with earnings not 10.1 per cent inflation would hit OAPs but save £7billion.
Former PM Liz Truss committed to spending three per cent of GDP by 2030 on defence, but No 10 has been tight-lipped on the pledge since she was ousted. Mr Wallace said he is confident there is a “recognition defence is moving up the funding priority ladder”.I AM proud to have supported the Energy Prices Act which will cap most household energy prices to £2,500 rather than the £6,000 they were supposed to be this winter.Petrol and diesel prices hit record highs this summer and, according to the RAC Fuel Price Watch, around 43-44 per cent went to the Exchequer.
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