New UK Prime Minister to Scrap VAT on Electricity Bills from October

Macro
โดย Reuters·Read original
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UK Prime Minister Burnham announced on the 21st that value-added tax on household electricity bills will be scrapped from 1 October. This is the first of his early measures after taking office, aiming to regain public support as part of tackling the soaring cost of living. A planned 1.8 billion pound digital ID project will be cancelled to fund the move, which is expected to cut around 45 pounds from the average annual household bill of about 1,862 pounds. In a statement, Burnham said, 'We are acting quickly to cut taxes on energy bills, put money back into people's pockets, and restore hope.' UK energy bills remain up to 60 percent higher than before the energy crisis, and with a further price cap increase expected in October, some say the impact of this measure will be limited.

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