The British government is providing cost-of-living relief through reduced import taxes on cookies, chocolate, and about 100 other supermarket products. Inflation has fallen to 2.8% in April, but higher fuel, heating gas, and electricity prices are expected to raise it again. The government postponed a planned fuel duty increase and granted truckers a yearlong reprieve from road tax to offset gasoline price pressures linked to disruptions affecting a major oil transit route. Broader support for household heating bills was not committed. Measures also aim to boost summer spending, including free bus travel for children in August and cutting tax on attraction tickets from 20% to 5%.
"Treasury chief Rachel Reeves on Thursday announced modest handouts to help alleviate rising costs sparked by the Iran war, including a reduction in import tax on cookies, chocolate and about 100 other supermarket products."
"To ease the impact, the government has postponed a planned increase in fuel duty and given truckers a yearlong reprieve from road tax to help offset soaring gasoline prices due to the effective closure of the Strait of Hormuz, a key oil transit route."
"But Reeves did not commit to broader support for household heating bills. She announced measures designed to boost the summertime economy, including free bus travel for children in August. During the summer, tax on tickets for attractions including zoos, theme parks and museums will be slashed from 20% to 5%."
"Reeves said she would pay for the cost-of-living support by closing tax loopholes for oil and gas companies with overseas operations. "This summer I want every family to be able to enjoy themselves," Reeves said. "As the war in Iran pushes prices up at home, my economic plan is the right one. I will continue to make the right choices, to protect households and businesses, and build a stronger and more secure Britain.""
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