Conservatives Propose VAT Cut for Energy Bills

0:00On March 30th, the Conservatives are pushing to scrap the 5% vot on household energy bills for the next three years. That move would save the average family 94 pounds a year right now, based on July forecasts. They'd pay for it by ditching green levees and subsidies like heap pumps, all to tackle the cost of living squeeze from the Middle East War. All in gas prices have shot up since Iran blocked the straight of Hormuz, one of the world's top shipping lanes for crude. Bills dipped a bit after the government cut some levees from April, shifting them to general taxes. But expect another hike in July when the price cap resets, labor spiring back hard with their treasury secretary calling the Tory plan a mess that won't lower bills. They say maxing out North Sea drilling, the heart of it, just props up old fuels. Meanwhile, reform UK once vat and green levees gone too. Lib Dems aim to have bills long term, and greens push tax hikes on energy profits to freeze. Rises.

1:01Prime Minister Starmer is calling a big roundtable Monday at Downing Street, with bosses from Shell, BP, Merisk, Lloyds, and Banks like HSBC. Though hash out ways to blunt the war's hit on living costs, plus get a military update on the straight. Chancellor Reeves is telling G7 ministers to ditch fossil fuel imports fast, doubling down on renewables and nuclear instead. Tories counter that tax cuts and more home drilling beat handouts, setting up real relief without picking winners and losers.