VAT is the UK's value-added tax policy on goods and services. In current headlines, VAT is tied to energy bills, retail pricing, and debates on tax tweaks to fund public services. This profile summarizes the role and recent moves shaping how VAT affects households and businesses.
Kerridge’s Bar & Grill at the Corinthia is reopening on 5 September as Kerridge’s and Georgie’s, a two-space concept. The Martini Club anchors a new bar space, while Kerridge’s dining room will continue under head chef Tom Childs. The reshuffle shifts focus from a single restaurant to a destination bar-and-dining experience, set against Kerridge’s campaign for reduced VAT in hospitality.
The government has introduced a temporary VAT cut on children’s meals, cinema and attraction tickets to ease cost of living during the summer holidays. The measure, announced by the Chancellor, is designed to help families, with firms free to pass on the saving. The scheme runs until September 1 and covers parks, zoos, cinemas and restaurants.
Andy Burnham has reiterated that there is room for movement on tax within Labour’s 2024 manifesto while outlining possible changes to business rates to support high streets and pubs. He has not promised revenue-raising measures on income tax, VAT or National Insurance but is considering reforms to business rates and targeted reliefs as part of his broader policy package.
New prime minister Andy Burnham has unveiled early measures aimed at easing living costs, including a VAT cut on energy bills, a 2 cap on bus fares, and targeted business rates relief for small venues. He is also expanding power through No 10 North and assembling a Cabinet as critics question the plan’s funding and ambition.
Gibraltar and Spain move past decades of tension as a post-Brexit treaty brings border checks to an end and integrates Gibraltar into Schengen. The border fence is removed and officials begin new clearance procedures at the Rock’s airport and port.
The BBC, The Scotsman and Independent report mounting energy costs amid price volatility. The government has announced VAT reductions on electricity, while CMA recommendations push regulators toward heating-oil protections and a broader shift to heat pumps and solar to shield households from price spikes.
Reuters and independent sources report JD Wetherspoon’s profit outlook has worsened amid higher food, labour and energy costs, as like-for-like sales rise modestly but profit guidance remains cautious. The update follows World Cup-driven sales boosts and a challenging cost environment.
Labour has elected Andy Burnham as leader and prime minister, propelled by a Makerfield by-election win. He vows to devolve power from Westminster and to drive a housing-led, regionally focused agenda. Bev Craig is set to become Greater Manchester’s mayor as Labour seeks to consolidate gains across the region.
Andy Burnham has reshaped the UK government on day one, appointing a new cabinet and unveiling an energy-relief measure, while facing scrutiny over party funding and donations. The move appears aimed at consolidating support and delivering a decisive start after his leadership win.
The government has appointed a new Chancellor, Healey, while Prime Minister Burnham is moving to keep within fiscal rules. Analysts expect defence spending to rise and tax and welfare reforms to be debated as markets react to the new leadership. The government is balancing investment with debt concerns amid a tight public finances picture.
The rising cost of ice cream in Britain has become a flashpoint between luxury indulgence and everyday treat. Prices for scoops and tubs vary widely, with premium parlours expanding while traditional ice-cream vans shrink. The sector has grown in the 2020s, yet operators face high fuel, insurance and maintenance costs.
Prime Minister Andy Burnham has announced a 20% business rates reduction for nearly 32,000 pubs, clubs and live music venues in England from April 2027, a package the government says will save a typical pub about £1,100 a year and cost roughly £100m. Ministers are proposing to fund it by reviewing reliefs for vape shops and cracking down on online tax non-compliance.
NIESR warns inflation will stay higher for longer, squeezing public finances. New PM Burnham faces costly promises; borrowing is at capacity and funding will require tax reform or spending cuts. Inflation peaks at 3.8% in Feb 2027 before easing.
A UK-backed package aims to cut electricity VAT and redesign gas charges to lower bills and boost heat pumps. Nesta-backed proposals would shift some levies to general taxation, potentially cutting bills by about £130 annually; government policy remains uncertain as of today.
The new prime minister has unveiled plans for social care reform, including a National Care Service and funding measures. He is seeking cross‑party support while vowing to avoid NHS collapse and to keep taxes within manifesto commitments. Early steps include targeted reliefs and bus and energy cost measures.
The government has confirmed that most under-16s will not pay for travel on most local bus services throughout August, easing cost pressures during the school holidays. The Department for Transport is also promoting VAT cuts on family-friendly attractions and a new bus fare cap set to start next year.
UK theme parks and Halloween events are rolling out discounts for advance bookings as a new wave of attractions launches. Thorpe Park marks 25 years of Fright Nights with a brand‑new scare maze and reimagined shows, while Universal Studios adds a daytime behind‑the‑scenes tour. Other family deals cover travel, memberships and multi‑attraction passes.
The prime minister has accelerated plans to make subscription cancellations easier and to curb deceptive discounts as part of a wider cost‑of‑living package. The government is bringing these changes forward to January 2027 and is planning consultations on banning misleading “was” prices.
Bankers warn that higher levies could drive investment and jobs away, while politicians face pressure to fund cost‑of‑living measures. Dimon cautions that an uncompetitive tax system risks capital flight as Healey prepares to deliver his Budget.
The Ofgem price cap is rising by 4% in October, driving the average dual-fuel bill to about £1,723 for typical usage. VAT removal on electricity bills provides some relief, while forecasts point to further increases in winter. Officials urge targeted support for vulnerable households amid mounting debt and calls for long-term remedies.