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

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Reuters UK

(Reuters) -Britain has proposed a cut in value-added tax, or 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. According to the Times, in his letter to party lawmakers on the day of a confidence vote last month, Johnson said energy would be devoted to “reducing the biggest single household outgoing of all — the tax bill. It must come down, and it will, because that is the b…

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