Kerry McCarthy MP, Labour's Shadow Treasury Minister, commenting on the RAC's figures that show rising oil prices have already wiped out the 1p cut in fuel duty, said:
“George Osborne should have listened to Labour and reversed the Tory VAT rise on petrol. That would have saved drivers around 3p a litre, far more than the paltry 1p cut in duty which has already been wiped out by rising world oil prices.
“And to make matters worse families already facing the squeeze from rising petrol prices and the VAT rise will be hit this week by cuts to tax credits, cuts to childcare support and a child benefit freeze. By cutting too deep and too fast this Conservative-led Government is putting jobs and growth at risk. And while the banks get a tax cut this year, families on low and middle incomes are being hit hard.”