The Times reported on Thursday that Britain has proposed lowering VAT to aid people with the rising cost of living.
According to the source, Prime Minister Boris Johnson’s chief of staff, Steve Barclay, suggested lowering the 20% headline rate of the tax, adding that a temporary drop would reduce the tax cost for millions.
According to the Times, Johnson stated in a letter to party lawmakers last month on the day of a confidence vote that efforts will be directed to ‘lowering the single largest single household outgoing – the tax bill It must and will fall because that is the only way to achieve the necessary progress.’
The report was not confirmed by the British government. According to a source close to Barclay, tax choices will be determined by Johnson and his finance minister, and ministers have been instructed to follow through on assurances made in the letter.
Inflation in the United Kingdom reached 9.1 percent last month, the highest level in four decades, prompting strikes or threats of strike action by workers in transportation, schools, postal services, and hospitals.
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