Will Rachel Reeves’ summer tax cuts make a difference to the cost of living? | BBC Newscast

The chancellor Rachel Reeves has announced a series of measures aimed at reducing the costs for families in the summer holidays.

Ticket prices for families at various attractions such as theme parks, zoos and museums will be cheaper during the summer holidays through a cut to VAT, the chancellor has said. The government didn’t however announce any major package of support aimed at energy costs.

On Thursday it was also revealed that UK migration had dropped to 171,00 almost half of 2024’s figure. Adam, Chris, Joe Pike and Helen Miller from the Institute for Fiscal Studies discuss.

00:00 Intro
00:35 What is Rachel Reeves’ summer VAT cut?
02:19 Will the cuts really help families?
04:03 Is this a cost of living crisis or an income growth crisis?
09:05 Why wasn’t there more help on energy bills?
11:45 Net migration to the UK falls sharply
15:12 Can governments fix long-term problems quickly enough?
17:48 Wes Streeting’s podcast comments
18:45 Why is capital gains tax back in the spotlight?
23:50 Can capital gains tax reforms really raise £12 billion?
26:36 The Labour party’s next direction
28:29 Outro

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