UK scraps fuel duty hike

Chancellor Rachel Reeves unveiled the 'Great British Summer Savings' package, which also includes a temporary cut in VAT to 5% for theme parks, zoos, and cinemas.

To fund these measures, the government plans to close a tax loophole for oil and gas companies, a move expected to raise hundreds of millions of pounds.

The Prime Minister defended the strategy as a necessary intervention to protect family budgets during a period of unprecedented economic uncertainty.

However, shadow ministers have mocked the plan as a 'drop in the ocean' that fails to address the core issue of skyrocketing energy bills.