This article was last updated on April 16, 2022
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Chancellor of the Exchequer George Osborne has unveiled the Conservative-led coalition with the Liberal Democrats’ plans to freeze fuel duty until 2015 on Monday.
While making a speech at the annual party conference of Prime Minister David Cameron’s Conservative Mr. Osborne has made this announcement in response to the main opposition Labour party’s promise to freeze energy prices for 20-month span in case they come out successful in 2015 general election.
The Chancellor has brought the surprise at the Tory Conference in Manchester that the tax would be frozen for the duration of the current parliament providing that the coalition could find the available money.
Mr. Osborne has made a move to show the Tories are also determined to help ease the cost of living by taking immediate action to help drivers.
The Chancellor disclosed his intentions to call off the 2p-a-litre rise penciled in by Labour for September 2014, continuing a freeze that has already lasted two-and-a-half years.
Aides claimed the scheme would help drivers in saving £750m a year, reducing the pump prices by 20p-per-litre lesser than under the Labour inherited plans, if the cancellation of the previous plans goes ahead.
Mr. Osborne showed his willingness to freeze tax on petrol until May 2015 “provided we can find the savings to pay for it”.
Mr. Chancellor has also told Conservative delegates during his speech in Manchester, northwest England: “For the first time, all long-term unemployed people who are capable of work will be required to do something in return for their benefits to help them find work.”
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