Budget 2025: Tax Reforms and Economic Shifts on the Horizon
Budget Timing and Fiscal Pressures The upcoming budget announcement is expected in November 2025, with Chancellor Rachel Reeves facing significant…
Tag: Institute for Fiscal Studies
Chancellor Reeves Considers Energy Bill Relief and Tax Measures in Upcoming Budget
Chancellor Rachel Reeves is reportedly considering interventions to reduce energy bills, including potential VAT cuts. The government faces a £22bn fiscal gap while maintaining commitments to key tax rate freezes.
Energy Bill Relief Measures Under Consideration
The government is reportedly planning “targeted action” to address rising living costs, with energy bills being a primary focus of the upcoming Budget. According to reports from the BBC, officials are considering cutting the current 5% rate of Value-added tax charged on energy, which could provide immediate relief to households. Another option under discussion involves reducing regulatory levies currently added to utility bills, sources indicate.