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Reeves cuts VAT on summer days out to 5% as part of cost of living support

21.05.2026 15:15 | The Guardian World

Chancellor says she will raise tax on global oil giants to help meet costs of plans and confirms freeze on fuel duty increasesBusiness live – latest updatesRachel 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. Continue reading...

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