Now is the time to cut VAT and help households struggling with rising household bills … with a cut in VAT from 20% to 17.5% for one year likely to save households £600.

The Conservative’s cost of living crisis is hitting many households hard. Sadly it is only going to get worse unless urgent action is taken.

An emergency cut to VAT would be a massive boost to people feeling the pinch by putting money back into their pockets. It will also help support local businesses by boosting spending on the high street.

The emergency change to VAT could be introduced quickly and easily by the Government for one year.

The Liberal Democrats believe that this action should be taken now – as well as scrapping the Conservatives National Insurance tax hike – to bring a much needed respite to local families.