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UK FTSE 100 set to fall as fourth quarter begins, with soaring fuel prices boosting Treasury VAT revenue
UK stocks are poised to open lower, kicking off the fourth quarter amid concerns over the cost of living. Soaring petrol and diesel prices, now at their highest since 2022, are expected to provide the Treasury with an additional £3.9 billion in VAT revenue compared to pre-war levels. Prime Minister Andy Burnham stated on Wednesday that "every possible measure" is being considered to address the cost of living, but acknowledged that public finances offer little room for new spending.
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