Rishi Sunak vows to ease fuel crisis and supply shortage with temporary visas & freeze HGV tax
RISHI Sunak today vowed to ease the fuel crisis with temporary visas and a freeze on HGV tax.
The Chancellor admitted it was "irresponsible" to think the supply issues could be resolved overnight, but insisted "we will act" to get things back to normal as soon as possible.
Mr Sunak revealed the plans as part of his autumn 2021 Budget to protect hard-up families this winter while still balancing the books after Covid.
He said: "We've already suspended the HGV levy until August and I can do more today - extending it for a further year until 2023, and freezing Vehicle Excise Duty for heavy goods vehicles."
Speaking in more detail about the plans, Mr Sunak said: "Having been shut down for almost a year, it takes time for factories to scale up production, for container ships to move goods to where demand is, for businesses to hire the people they need.
"And global demand for energy has surged at a time when supplies have already been disrupted, putting strain on prices.
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"In the year to September, the global wholesale price of oil, coal and gas combined, has more than doubled.
"The pressures caused by supply chains and energy prices will take months to ease.
"It would be irresponsible for anyone to pretend that we can solve this overnight.
"I am in regular communication with finance ministers around the world and it’s clear these are shared global problems, neither unique to the UK, nor possible for us to address on our own."
On top of the visa extension and HGV levy suspension, the Chancellor also announced new funding to improve lorry park facilities.
He added the Budget will offer "further support for working families" and the Government's fiscal policy will "keep in mind the need to control inflation".
Mr Sunak said: "I have written to the Governor of the Bank of England today to reaffirm their remit to achieve low and stable inflation."
Key Budget announcements include:
- A wage boost for millions of public sector workers as the pay freeze is scrapped
- A freeze of HGV tax to help end the supply crisis
- A rise in the minimum wage to £9.50 in a hike for two million Brits
- A further £6bn to clear the NHS backlog that's groaning after lockdown
- A new £5bn pot for research and development into health
- A £2bn boost to build houses on brownfield land equivalent to 2,000 footie pitches
- A £3bn skills funding with more bootcamp places for youngsters
- Half a billion pounds to sharpen up maths skills for 500,000 adults
- Funding for up to 8,000 new sports pitches and 300 scout huts
- A culture boost with £850m pumped into museums and galleries
- An extra £435m to cut crime with more CCTV, street lights and help for victims
- A further £700m to bolster border controls and fund a fleet to patrol migrant boats