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UK Chancellor Reeves to Postpone Fuel Tax Hike Originally Scheduled for September

GateNews
Commodities

According to The Sun, UK Chancellor Rachel Reeves plans to announce next week that she will postpone a planned fuel duty increase originally scheduled for September. The temporary fuel tax cut that began in 2022 was set to expire this September, which would have raised fuel prices by 5 pence per liter (approximately 6.6 cents). The UK government has repeatedly extended the tax cut measure since its introduction, with the most recent extension announced in November last year.

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