UK’s Burnham eyes lower energy bills in first move as PM

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UK Prime Minister Andy Burnham announced a plan to cut energy costs by removing the VAT on domestic electricity bills starting October 1, reducing average annual household electricity expenses by approximately £45. This action aims to address the cost-of-living crisis and respond to widespread dissatisfaction with previous governments' approaches.

British Prime Minister Andy Burnham said on Tuesday he would cut taxes ⁠on electricity bills, the first of several early moves to signal his intent to ease a cost-of-living crisis and quell anger over successive governments’ failure to bring change. On his second day in his new job, Burnham said his government would remove the value-added tax from domestic electricity bills from October 1, cutting around £45 from the average annual bill of around £1,862 that households pay. With bond investors...