UK's Liz Truss considers 5% cut in VAT if she becomes PM: Report

The govt has been facing growing calls to provide immediate financial support to households struggling with squeezed budgets as energy bills jump 80% to an average of 3,549 pounds a year from Oct

British leadership frontrunner Liz Truss is considering cutting value-added tax (VAT) by 5% across the board to help tackle the cost-of-living crisis if she succeeds Boris Johnson as prime minister next month, the Sunday Telegraph reported.
 

The government has been facing growing calls to provide immediate financial support to households struggling with squeezed budgets as energy bills jump 80% to an average of 3,549 pounds ($4,169) a year from October.
 

Truss's leadership campaign is considering the plan as a "nuclear" option, the Telegraph quoted an unnamed source as saying, with other options including a 2.5% cut in the VAT sales