AN MP is demanding the price at the pumps be slashed to help the economy.

Shipley MP Philip Davies said a fuel duty cut would be a win-win situation for families and for the Government.

Speaking during Treasury questions in the Commons, he said: “The National Institute of Economic and Social Research has shown a 3p cut in fuel duty would generate 70,000 new jobs, stimulate GDP by 0.2 per cent and help lower inflation.

“The Centre for Economics and Business research said a cut would be even more beneficial to the economy and self-financing. Does the Government accept that a cut in fuel duty will be self-financing and provide a boost to the economy?”

Treasury Minister Danny Alexander said: "The Treasury has published our own analysis on fuel duty reductions which also shows the economic benefits reductions can bring."

Mr Davies has long campaigned for prices to be slashed and supports the FairFuelUK campaign. He said he would continue to push for fuel duty cuts.