No change for drivers in chancellor’s Spring Statement: It’s ‘as you were’ on tax, fuel and EVs

Summary: The Chancellor’s Spring Statement brought no immediate changes for drivers, with fuel duty cuts set to be reversed from September 2026 and annual rises from 2027. Oil price spikes due to geopolitical tensions may raise petrol costs, but impacts will be delayed. The government is consulting on reducing VAT for public EV charging to encourage electric car use. Tariffs imposed by the US could affect British car makers like JLR, potentially increasing prices globally.

Brands mentioned: JLR