2022 Spring Statement

Announced:

5p a litre Fuel Duty cut starting from today until March 2023

Homeowners will pay 0% VAT on energy saving materials

Household Support Fund doubled to £1bn from April

GDP underlying Debt to decrease from 83.5% to 79.8% in 2026/27

NI Threshold to increase to £12,570 from July

Small Business Employment Allowance to increase to £5,000

From 2024 income tax to be cut from 20p to 19p

Not Announced:

Any energy bill help

Any major fuel duty help

Any postponement to the NI rise