Spring Statement: Key points from Rishi Sunak's mini-budget

Here are the main points from Chancellor Rishi Sunak’s spring statement:

– Mr Sunak said by the end of the current Parliament in 2024, the Government would cut the basic rate of income tax from 20p in the pound to 19p which he said was “fully costed and fully paid for in the plans announced today”.

– The Chancellor said he would “stand by” households, and announced fuel duty would be cut by 5p per litre for a year up until March 2023.