While fuel duty may be down, record high taxes on everyone from businesses to individual taxpayers have resulted in a record monthly tax figures for the first six months of the tax year. The total gross tax receipts from April to October 2024 reached £476bn, up by £35bn to £441.8bn from the same six-month period in 2023/24 tax year.

With inheritance tax on agricultural properties being added, and the winter fuel allowance for pensioners being cut for most, many believe that the Chancellor could have taken an easy win at the Budget and unfrozen the fuel duty cap, which would have raised an extra £3bn a year by 2029-30.

Additionally, ending the temporary 5p per litre cut to fuel duty could have saved a further £2.7bn a year by 2029-30.