Spring Statement 2022: highlights of Rishi Sunak’s ‘mini budget’

Chancellor lowers fuel duty and lifts the National Insurance threshold

Rishi Sunak
Rishi Sunak leaves 11 Downing Street to announce the Spring Statement in parliament
(Image credit: Tolga Akmen/AFP/Getty Images)

Chancellor Rishi Sunak has today unveiled his highly anticipated Spring Statement against a backdrop of rising fuel, energy and food costs.

Shortly before Sunak’s statement – which has been billed by the national press as a “mini budget” – the challenge facing the chancellor was “laid bare” as the Office for National Statistics confirmed that inflation has reached a 30-year high, rising 6.2% in the 12 months to February, said the BBC.

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