Spring Budget 2022: Rishi Sunak announces tax cuts and cheaper fuel

betterRetailing live blogged during the Spring Budget 2022 announcement

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Chancellor Rishi Sunak outlined the Spring Budget 2022 at the House of Commons on 23 March.

Sunak is under pressure to address the recent issues surrounding hikes to energy prices, soaring petrol prices and the rising cost of living with inflation reaching extraordinary levels.

Retailers have been hit with rising costs across the board, with many struggling to absorb the costs.

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Several retailers told Better Retailing that they hope the government will mention and acknowledge the struggles of small businesses in this years Budget, with hopes that the government will introduce a similar rebate for businesses that was introduced for households earlier this year.

Ahead of his announcement, Sunak said: “The ongoing uncertainty caused by global shocks means it’s more important than ever to take a responsible approach to the public finances.

“With inflation and interest rates still on the rise, it’s crucial that we don’t allow debt to spiral and burden future generations with further debt.”

Better Retailing live blogged during the Spring Budget announcement

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