Fuel duty increase cancelled

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Fuel duty will remain frozen says chancellor in 2015 pre-election budget

A fuel duty increase that was scheduled for September has been cancelled, it was revealed in today's budget.

The chancellor, George Osborne, says it gives us the longest duty freeze in more than 20 years and will save a family around £10 every time they fill up their car.

Fuel prices have dropped in recent months thanks to reduced oil prices, but this '£10 a tank' saving will depend on the cost of petrol at your local filling station.

In his pre-election budget speech, Mr Osborne said: “I want to help families with the cost of filling up a car. It is a cost that bares heavily on small businesses too. The last government’s plans for a fuel duty escalator meant taxes would rise above inflation every year.

“But I want to make sure that the falling oil prices are passed on at the pumps, so I am today cancelling the fuel duty increase scheduled for September – petrol frozen again, it’s the longest duty freeze in over 20 years. It saves the family around £10 every time they fill up their car. That’s £10 off a tank with the Tories.”

The fuel duty will remain frozen at 57.95 pence-per-litre

Mr Osborne also announced an additional £100m funding to back the UK's efforts in becoming the leader of autonomous vehicle - driverless car - technology.

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