UK's new PM Andy Burnham cuts household electricity tax
The UK's new leader moved to remove VAT from electricity bills from October 1. The move comes before Burnham chairs his first cabinet meeting later
The UK's new leader moved to remove VAT from electricity bills from October 1. The move comes before Burnham chairs his first cabinet meeting later today. Britain's new Prime Minister Andy Burnham on Tuesday announced that there would be a cut in taxes on household electricity bills, by removing VAT from October 1.
In a statement issued by Downing Street, the measure was described as an effort to "give millions of households breathing space this winter." "We’re taking immediate action to cut taxes on energy bills, put more money in people’s pockets and bring back hope," Burnham said.
According to the government statement, cutting VAT on electricity bills was expected to shave off £45 (€52.97, $60,48) off the yearly price cap. The statement went on to say that the measure was being funded through the cancellation of the Digital ID program that was going to cost £1.8 billion over the next three years.
More to follow…
The BriefWire