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Spring Statement: Sunak warns economy could get ‘significantly’ worse

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Chancellor Rishi Sunak was keen to present his Spring statement as a series of tax cuts. But official figures forecast the biggest fall in living standards for 66 years.

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And the cuts he announced today undo just a quarter of the tax hikes that Mr Sunak himself has brought in over the last two years.

As expected, the chancellor will cut 5 pence off fuel duty for one year.

He's also raising the point at which workers start paying National Insurance contributions/

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