Matthew has expressed his support for a cut to fuel duty in the Spring Budget 2023.

Successive Conservative governments since 2010 have cut fuel duty, which has boosted economic growth and job creation, as well as allowing families to save more of their hard-earned money. Research from Centre for Economics and Business Research (Cebr) and commissioned by FairFuelUK has found that the fuel duty freezes since 2010 has kept costs down in the economy and boosted household expenditure by £24 billion.

As the Spring 2023 Budget approaches, there has been concerns about fuel duty rising, which would be challenging for many drivers and could possibly have adverse effects on the UK economy. Research from Cebr has demonstrated that a steep increase in fuel duty could put 31,000 jobs at risk, have a 1% impact on GDP and add 2.3% to inflation.

Matthew has expressed his support in a letter to Chancellor Jeremy Hunt, urging him to commit to freezing or cutting fuel duty in the forthcoming Spring Budget to be released on 15 March. 

Speaking prior to the Budget at a drop-in event held for MPs, Matthew said: “Cutting fuel duty would provide enormous relief and certainty for drivers, families and businesses at a time when many households are struggling to cope with rising costs.

“It will also have wider implications for the UK economy by halving inflation and stimulating economic growth.”