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Fuel duty increase cancelled

The Chancellor has scrapped August's planned 3p rise in fuel duty and frozen the tax for the rest of this year. The £550m cost of the change will be paid for by departmental savings across Whitehall.

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Shadow Chancellor: Scrapping fuel duty 'fastest u-turn in history'

Shadow Chancellor Ed Balls has said today that the Chancellor's decision to scrap fuel duty is the "fastest u-turn in history" and was pleased that George Osborne had "backed down" on the plans.

Shadow Chancellor Ed Balls

Mr Balls said: “With u-turns on petrol, pasties, caravans, charities and churches, George Osborne's Budget is now in tatters - a truly omni-shambles of a Budget from a part-time Chancellor whose reputation is now badly damaged.

“But we now need to see a u-turn on the tax cut for millionaires and the tax rise on pensioners. And with Britain pushed into a double-dip recession, which means borrowing is now higher than last year, we need a u-turn on this Government's failed economic plan.”

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