The chancellor has resisted calls to increase benefit payments or give larger discounts off energy bills. He has signalled he will wait until the autumn Budget to offer tax cuts. But what are the options at his disposal?
VAT cut
The Liberal Democrats are backing a reduction in VAT on household energy bills from 5 per cent to zero. The move would cost around £2.5bn and save the average energy customer £90 a year. However, it would not be targeted at those most in need, with wealthier households also seeing a benefit.
Windfall tax
Labour is pushing the government to bring in a one-off tax on North Sea oil and gas producers, who are among those to have benefited from big increases in prices this year.
Bu hikaye The Independent dergisinin May 21, 2022 sayısından alınmıştır.
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Bu hikaye The Independent dergisinin May 21, 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
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