This afternoon the Chancellor delivered his much-awaited spring statement in response to the cost of living crisis.
You can read the full details and reaction on our live blog page here.
In the meantime, here’s what you need to know.
Rishi Sunak made some major announcements, including 5p off fuel and raising the National Insurance threshold by £3,000 – which he said was a cut worth £330 a year for 13m people.
- Read all the key announcements here
But the planned National Insurance rise will go ahead. Shadow Chancellor Rachel Reeves said this, along with his decision not to impose a windfall tax, “are the wrong choices”.
The Office for Budget Responsibility said that households were facing the largest drop in disposable income since records began.
- Here is the OBR’s analysis
Political reaction has been mixed, as you might expect, with the Chancellor’s measures welcomed by York’s Conservative MP Julian Sturdy, but criticised by Labour MP Rachael Maskell and senior Lib Dems on the council. Here’s reaction from:
