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.”

Advertisement

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.