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UK not persuaded by VAT cut on energy bills, minister says

UK not persuaded by VAT cut on energy bills, minister says
UK not persuaded by VAT cut on energy bills, minister says Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
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LONDON - Britain does not believe that cutting a value-added tax on consumer energy bills is the right way to help households through a cost of living crisis, Chief Secretary to the Treasury Simon Clarke said on Monday.

Energy bills are set to jump by around 50% in April and the opposition Labour Party have suggested cutting VAT on bills could help soften the blow.

Clarke told BBC TV that that would be a rather blunt tool however, helping the wealthiest households who have the largest bills. "We are not persuaded at this point that this is the right intervention," Clarke said of a VAT cut.

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