Labour slash fuel duty reduce motorway speed limits

The IPPR proposes UK-specific fiscal measures (fuel duty cut, speed limit reduction, energy bill cap, tax hikes on energy firms/banks/private air travel) to counter inflation and growth slowdown from the Iran war. Direct commercial mechanisms: lower fuel duty reduces retail petrol/diesel prices, squeezing refinery margins but boosting consumer spending; speed limit cut reduces fuel consumption, lowering demand for oil; energy bill cap limits utility revenue; tax increases on energy firms and banks reduce their net income. The war context implies potential oil supply disruption, but the article focuses on UK domestic policy response. Impact is UK-specific, with global oil demand effect via reduced UK consumption.