Reeves' Half Measures Won't Ease the Pain for Struggling Households Rachel Reeves' decision to cut VAT on summer attractions and children's meals from 20% to 5% is a belated recognition of the crushing burden that cash strapped families face.
However, her "Great British summer savings" scheme falls short in addressing the root causes of the cost of living crisis.
The chancellor has agreed to dip into the foreign branch profits regime, which determines how multinational oil firms pay tax on their UK operations, a move estimated to raise several hundred million pounds.