Osborne: We will watch fuel prices ‘like a hawk’

Chancellor George Osborne defended his plans to slash fuel prices:

“We will be watching like a hawk to make sure that motorists get the benefit of the Budget changes and make sure that there’s no funny business.

“We’ve got an international oil market. The petrol that you put in your car doesn’t just come from the North Sea, it comes from the Middle East, Russia and so on.

“This idea that they’re not going to be able to pass on this cut is a bit of a myth being put around by the Labour party at the moment and I would suggest to people to ignore it.”