Fuel Prices; Renting Furniture; Boiler Upgrade Scheme
The chancellor cut fuel duty in his spring statement, but will it be passed on by retailers at the pumps? And will the idea of renting furniture ever catch on?
The chancellor yesterday cut fuel duty by 5p in a bid to try to ease the cost of living crisis. Analysts are watching carefully to see if the cut is passed on by retailers at the pumps. The supermarket Asda was the first to respond, cutting prices by 6p, before others followed suit. But reports say the cut only puts prices back to where they were at fortnight ago. We hear from motorists on whether it'll make much difference.
Rishi Sunak also reduced VAT on air source heat pumps to 0%, down from five per cent. It comes as the Government's new plan to persuade us to give up our gas boilers launches next week. It's a grant scheme that offers 拢5,000 off the upfront cost of an air source heat pump. We look at what's involved in switching to a heat pump.
And the idea of renting furniture isn't new but has it taken off? John Lewis started a trial in London in 2020 and have since expanded to other cities including Bristol, Manchester, Reading and Liverpool. We'll hear the pros and cons and speak to one entrepreneur who's launching his own furniture rental business.
PRESENTER: Winifred Robinson
PRODUCER: Simon Hoban