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UK government proposes VAT cut to ease pain of rising prices -The Times

06/30/2022 | 05:53pm EDT
FILE PHOTO: People shop at market stalls, with skyscrapers of the CIty of London financial district seen behind, in London

(Reuters) - Britain has proposed a cut in VAT to help households with the cost of living, The Times reported on Thursday.

Prime Minister Boris Johnson's chief of staff Steve Barclay suggested reducing the 20% headline rate of the tax, the report said, adding a temporary cut would reduce the tax bill for millions.

The British government did not immediately respond to Reuters' request for comment outside regular business hours.

(Reporting by Rhea Binoy in Bengaluru; Editing by Chris Reese)


© Reuters 2022
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