Chancellor hints at fuel duty cut in this month’s Budget
He said that "squeezed" middle and lower-income voters were having to pay £80 to fill up a family car, and added: ‘I hear you. I promise you I am doing everything I can to find a way to help.’
Commentators believe that this signals his intention in the Budget on 23 March to announce that a planned rise in fuel duty (1p above the level of inflation from 1 April) will be scrapped, and that some form of fuel duty stabiliser will be brought in.
Osborne also said that his Budget would be ‘unashamedly pro-growth, pro-enterprise and pro-aspiration’.
John Cridland, CBI director-general, said: ‘This Budget must demonstrate a relentless focus on growth to help get the UK working again. We need an all-action Budget which boosts exports, investment and jobs.
‘The Budget should create the framework for a Mittelstand of mid-cap businesses by ensuring they can access the capital they need to expand at home and abroad.
‘Mobile talent needs a good reason to do business in the UK, so the chancellor should signal a road map for reducing the 50p tax rate.
‘The incentive behind the Carbon Reduction Commitment must be restored to help companies go green, and if not, it should be stopped altogether because in its current form it adds yet another cost to doing business.’