Nazanin returns and Spring Statement preview
Political Fix
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I Think the Treasury Will Try and Hold the Line on the Next Price Cap Increase.
Tax on fuel duty is a very, very big tax and so making relatively small changes is extremely expensive. I think that given that you've got a national insurance rise coming down the track, they have to probably do something to protect lower earners from that. The treasury is also under a little bit pressure on the uprating of benefits which is now going to happen at a rate that is less than what is the current rate of inflation. But if we are facing another very, very chunky increase in household energy bills, i think the treasury will then be forced to do something more on people on lower incomes. That's where the benefit system come in, and something through universal credit.
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