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<p>Increases in VAT per litre of fuel from rising prices are likely to be largely
offset by reductions in VAT on other items if households have less to spend on these
items, given higher fuel expenditure and a fixed budget. Therefore, this would not
lead to a significant increase in overall VAT receipts. The Office for Budget Responsibility
now forecasts lower VAT receipts for this year, 2022-23, than they did in Autumn 2021.</p><p>
</p><p>The Government understands how the rising cost of living is making life harder
for people. These are global challenges. However, as set out in the Spring Statement
2022, the Government is providing support worth over £22 billion in 2022-23 to help
families with these pressures.</p>
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