Chancellor says she will raise tax on global oil giants to help meet costs of plans and confirms freeze on fuel duty increases
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Rachel Reeves will cut VAT to 5% on summer attractions such as theme parks and softplay centres during the school holidays, as she aims to ease the impact of the war in Iran on cash-strapped households.
The chancellor told MPs on Thursday she would also raise more tax from global oil firms operating in the UK, to help meet the costs of her plans.
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Source link : https://www.theguardian.com/politics/2026/may/21/reeves-cuts-vat-on-summer-days-out-part-of-cost-of-living-support
Author : Heather Stewart Economics editor
Publish date : 2026-05-21 12:53:00
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