Ed Balls MP, Labour’s shadow chancellor, speaking at Treasury Questions this afternoon, said:
"A year ago the Chancellor promised to get the economy growing and introduce a fair fuel stabiliser which would cut fuel duty when petrol prices were higher.
"One year on, he is now indicating he is going to press ahead with fuel duty increases, even though rising oil prices mean pump prices have today reached a record high.
"How can he press ahead when petrol prices are 4p higher than in last year's Budget? What's happened to the stabiliser? Or isn't the truth he can't do the right thing on child benefit or tax credits or fuel because his plans have failed?
"A year ago he said in the Budget he would 'put fuel into the tank of the British economy'. The fact is it's the economy which has tanked, on the hard shoulder, and this Chancellor is the one who has run out of fuel."
Cathy Jamieson MP, Labour’s shadow economic secretary to the Treasury, in advance of tomorrow’s lobby of Parliament on fuel prices, added:
“People already feeling the squeeze from the VAT rise and deep cuts to tax credits are now facing record high petrol prices too.
“We need real action in the Budget to ease the squeeze and boost jobs and growth. A temporary cut in VAT, part of Labour’s five point plan for jobs, would give immediate relief to hard-pressed motorists by taking 3p off the price of a litre of petrol and help jump-start our stalled economy too.”