How changes at the top of government could affect your money
Money Box
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Cutting v a T on Energy Bills
Ever rishi son had cut fuel duty by five pence in his spring statement back in march, and it was just wiped out by rising fuel costs. Do you think cuts to fuel duty might be quite high on the list of future priorities? Possibly. And similarly, cuts to v a t. In theory, it puts money into people's pockets immediately. But there are a number of problems. One is that there's no guarantee that the supplies will pass on the cuts as i think we saw with some of the fuel duty. Another problem is it's really expensive for the government. A cut in of one penny in v a t costs round about five billion. It could really make inflation
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