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.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us