Ahead of the Autumn Budget, Daisy Cooper, MP for St Albans and the Lib Dem Treasury Spokesperson, unveiled the party’s plans to slash VAT for hospitality and attractions and reduce people’s energy bills, paid for by a new windfall tax on the big banks.
On 12 November, Daisy set out the Lib Dems’ bold £12bn plan to tackle the cost of living and support Britain’s high streets, putting £270 back in people’s pockets.
As part of this plan, VAT would be immediately cut from 20% to 15% for hospitality, accommodation and attractions, boosting struggling high streets and slashing prices for hard-pressed families across St Albans.
Daisy has said that this plan will also boost footfall into pubs, restaurants, entertainment venues and tourist attractions across St Albans, tackling the double whammy of higher taxes and lower spending currently hammering UK food and drink venues.
The party’s £12bn support package also includes proposals to bring down sky-high energy costs, by removing the Renewables Obligation levy currently charged on people’s electricity bills. The move would reduce the typical energy bill by more than £90 a year, taking it down to its second lowest level since the energy crisis began in 2022.
Daisy said:
“Here in St Albans, families are facing soaring bills and businesses are struggling to cope with Labour’s jobs tax and higher business rates bills. In recent months we’ve seen high street businesses forced to shut up shop, and I’ve heard from many more who are close to doing so.
“At the same time, for many local residents, the small joys that make life worth living, like a Friday night fish and chips or trip to the cinema, are becoming an unaffordable luxury.
“Our plan would tackle the cost of living, give our high streets a boost, and give everyone a much needed morale boost.”
Daisy announcing these proposals, on 12 November.