VAT Cut Won't Save You Much on Energy | Leeds News

VAT on energy bills is being slashed starting October 1st, promising households around $45 a year in savings—but don’t get too excited: energy prices are still set to climb, with the price cap expected to hit $1,906, wiping out most of the benefit. Financial expert Martin Lewis warns that while electricity bills get a 4.8% cut, the overall price cap rises 3.1%, costing families roughly $50 annually. In short, it’s a small gesture that won’t meaningfully ease the cost of living crisis for most families. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/94012e4f0799e2e0