LONDON: 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 watching closely for how any fiscal support would be paid for, he said the move would be funded by savings from the cancellation of a £1.8 billion ($2.42 billion) digital ID programme, announced on Sunday. "We're taking immediate action to cut taxes on energy bills, put more money in people's pockets and bring back hope," he said in a statement, having pledged to give people more "breathing space" in their lives. At his first cabinet meeting of top ministers, Burnham again stressed that fiscal discipline was the touchstone for his new government - a message Healey reinforced. — Reuters
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