Sunak To Cut VAT on Energy to Revive UK Tory Leadership Bid
- Rival Truss criticizes former chancellor’s pledge as a U-turn
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Rishi Sunak pledged to scrap value added tax on all domestic energy bills for the next year if he becomes UK prime minister, a move his leadership rival, Liz Truss, criticized as a U-turn.
Announcing a “winter plan” to address inflation and the cost of living, Sunak’s campaign said he would introduce a “targeted, temporary and timely tax cut” by removing VAT on domestic energy bills if a price cap imposed by the regulator rises above 3,000 pounds ($3,610) as expected later this year.