Labour calls on Chancellor to cut VAT to lower petrol prices

Cathy Jamieson MP
Cathy Jamieson MP Credit: ITV News

The Shadow Economic Secretary to the Treasury Cathy Jamieson has said: “These record petrol prices come at a time when hard-pressed families are already being hit hard by tax rises and spending cuts that go too far and too fast.

“A temporary cut in VAT, part of Labour’s five point plan for jobs, would give immediate relief to hard-pressed motorists by taking 3p off the price of a litre of petrol and help jump-start our stalled economy too.”

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Petrol hits record high

The average cost of a litre of petrol has risen to 137.44p, topping the previous all-time high of 137.43p a litre set in May 2011.