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Electricity VAT reduction in October
The UK government announced a VAT reduction on household electricity bills, effective October 1, to help with living costs. The 5% VAT cut is expected to save a typical household about £45 annually and will be funded by savings from canceling a digital ID program. The measure applies across England, Scotland, and Wales, with equivalent support for Northern Ireland, and also benefits qualifying small businesses, charities, and care homes.
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