Rachel Reeves’s 5% VAT cut on electricity bills will backfire, experts say

Critics believe cut would mostly benefit better-off people with larger homes and increase carbon emissionsProposals being considered by Rachel Reeves to cut tax on electricity bills will backfire, experts have warned, resulting in a giveaway to richer homeowners and undermining the UK’s climate commitments.The chancellor is understood to be looking at plans to eliminate the 5% VAT charge on electricity bills as a fast and simple way to reduce bills for consumers and ease the cost of living pressures that have aided the rise of Reform UK. Continue reading...Weiter zum vollständigen Artikel bei TheGuardian Weiter zum vollständigen Artikel bei TheGuardian