Times' hears that UK Chancellor Reeves is looking to back down on plans to start increasing fuel duty by 5p a litre from September, the suggestion is that the move would cost about GBP 2.6bln, Times Reports

This headline suggests a potential de-escalation regarding UK fuel duty increases, which may serve to mitigate financial pressures on consumers amidst a cost-of-living crisis.

Newsquawk StaffPublished 15 Apr 2026, 06:45 UTCOn the live feed at 06:25 UTC — 9 more headlines followed before this page went public

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06:30

Indian WPI Manufacturing YoY (Mar) Y/Y 3.39% (Prev. 2.92%)

06:30

Indian WPI Inflation YoY (Mar) Y/Y 3.88% vs. Exp. 3% (Prev. 2.13%)

06:25

Times' hears that UK Chancellor Reeves is looking to back down on plans to start increasing fuel duty by 5p a litre from September, the suggestion is that the move would cost about GBP 2.6bln, Times Reports

06:19

Additional European Equity News

06:14

US President Trump said it's "very possible" a deal with Iran will be reached by the time the King visits the US later this month (27-29th April), Sky News reports

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UK Chancellor Reeves has proposed only increasing defence spending by less than GBP 10bln over the next four years, fearing a bigger increase would be unaffordable, according to a Times source

Context

The estimated GBP 2.6 billion cost of backing down could reshape fiscal policy considerations, signaling a more cautious approach to spending which translates to possible implications for inflation and government bond yields.

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