Today: Wednesday, 1 February 2023 year

Liz Truss thinks about reducing VAT in the UK in case of victory in the elections

Liz Truss thinks about reducing VAT in the UK in case of victory in the elections

British Foreign Secretary and prime ministerial candidate Liz Truss wanted to reduce VAT

Truss thought about reducing the VAT by 5 percent in the event of her own victory in the elections. Such a decline – from 20 to 15 percent – could be the largest in the history of the country. It is assumed that such a decision will allow each family to save up to 1,300 pounds sterling (1,527 dollars) annually.

 


Truss has already discussed the move with her top advisors. At the same time, she stressed that decisions on financial support will be made only after receiving the final results of the vote in the election of the prime minister.


Earlier, the head of the British Foreign Office warned of a protracted energy crisis in the country, which will last for several years.

“If people think that the problem will be solved within six months, then they are wrong. This is a long-term problem,” she said.

 


The politician pointed out that the UK needs to resume the development of oil and gas fields in the North Sea, accelerate the construction of nuclear power plants and switch to renewable energy sources.