"The Conservatives have called on the government to remove VAT from household energy bills for the next three years to help ease the cost of living amid the war in the Middle East."
"The party said removing VAT from energy bills, currently set at 5%, would save the average household £94 a year based on forecasts for energy costs from July."
"There has been a renewed focus on energy costs since the outbreak of the war in Iran, with fears a sustained rise in the price of oil may lead to a surge in household bills."
"Chancellor Rachel Reeves is set to urge other G7 finance ministers to reduce their collective reliance on imported fossil fuels, while outlining her solution of pressing ahead with more renewables and nuclear."
The Conservatives have proposed eliminating VAT from household energy bills for three years to help mitigate the cost of living crisis exacerbated by the Middle East conflict. This proposal would be financed by cutting renewable energy schemes and green levies. Energy costs are expected to rise again in July, despite recent government measures to lower them. The Prime Minister will meet with industry leaders to discuss strategies for reducing the war's impact on living costs, while the Chancellor will advocate for reduced reliance on imported fossil fuels and increased renewable energy production.
Read at www.bbc.com
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