Fuel could go up by 12 pence by next year, OBR claims

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The Office for Budget Responsibility, which analyses UK’s finances, said the 23 percent increase pencilled in for March would add an extra £5.7 billion to receipts next year.

A decision on whether the rise will go ahead will not be taken until the spring budget.

The annual fuel duty escalator has been cancelled for every year over the last decade but a separate 5p cut in fuel duty is due to end in spring

A Treasury spokesman said: “The 23 percent figure came from the OBR not the Treasury and it’s based on forecasts that are subject to change. 

“We have not announced anything on fuel duty today, the existing 5p cut will remain in place until March 2023, a tax cut which is worth £2.4bn, and final decisions on fuel duty rates will be made at the Spring Budget.”

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