- The Liberal Democrats propose a 5% VAT cut (from 20% to 15%) for pubs, restaurants, and entertainment venues to support the struggling hospitality sector.
- The VAT cut would be funded by a new windfall tax on big banks, expected to raise about £30bn by 2030.
- The party also calls for cutting energy bills by £90 a year by removing the main renewables levy, aiming to save the average family £270 by April 2027.
- The total cost of the package is £12bn, with the VAT cut costing £7.5bn and the energy bill measure £4.5bn.
- The Lib Dems propose using part of the bank levy to fund a new Energy Security Bank for green energy home loans, launching in 2027-28.
Source: bbc.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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