London, July 27
Rishi Sunak, trailing in the race to become Britain’s next PM, pledged to temporarily scrap taxes on energy bills paid by households as part of a “winter plan” to ease the cost-of-living crisis.
The year-long hiatus on paying value-added tax (VAT) on energy bills would save the average household 160 pounds ($193), he said. The pledge marks a change of tack for Sunak, who has repeatedly emphasised the need to restore discipline to UK’s public finances. Foreign Secretary Liz Truss outlined a wider range of tax cuts that Sunak branded irresponsible. Truss warned that Sunak’s plans will tip Britain into recession.
Whoever triumphs when the result is announced will inherit some of the most difficult conditions in Britain in decades. — Reuters
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