There will be ‘no funny business’ says ‘hawk’ Osborne
As the dust settles after Wednesday’s Budget announcement, Chancellor George Osborne has reiterated his commitment to fairer fuel prices.
Many have speculated the 1p fuel duty cut could quickly be soaked up by further hikes at the pump.
But appearing on ITV’s Daybreak, the Chancellor revealed he will be keeping a close eye on fuel companies to ensure his actions remain relevant.
"We will be watching like a hawk to make sure that motorists get the benefit of the budget changes and make sure that there’s no funny business,” he said.
Squeeze
Acknowledging limits to his influence, he added: "I’m not in control of the world’s oil price unfortunately.
"What I am in control of are the taxes that go onto oil in Britain, in other words the duty that gets levied at the petrol station.
"I’m not pretending that this is going to transform the situation over night for families who are feeling the squeeze, but it helps."
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