Food and fuel costs: Martin Lewis and Nadhim Zahawi

Conservative MP Nadhim Zahawi said he would love to drop the price of petrol to £1 a litre but said: "Your children, our children will have to pay if we are irresponsible with money now."

He said the government had cut the price of petrol by 10p a litre but added: "You have to balance the books somehow."

Money man Martin Lewis said the majority of petrol costs was tax, and it was not fair for the government to blame the oil firms.

And he called for compulsory financial education in schools, predicting a "budgeting bloodbath that is coming" with the arrival of universal credit and payments changing from weekly to monthly.

They were debating a Daily Politics film looking at what influence a government has over rising fuel, food and rail costs.

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