- The Conservative Party is urging the government to remove VAT from household energy bills for three years to help with the cost of living.
- The proposal would be funded by scrapping renewable energy schemes and green levies, including heat pump subsidies.
- Removing VAT (currently 5%) would save the average household £94 a year.
- The Tories also plan to increase North Sea oil and gas production to generate more tax revenue.
- They have already promised to scrap taxes on fossil fuels used for electricity generation.
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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