London. British Prime Minister Andy Burnham said on Tuesday he would cut taxes on electricity bills in his first attempt to ease a lengthy cost-of-living crisis that has angered the public and helped stoke political instability.
In his second day in his new role, Burnham said his government would remove the value-added tax from domestic electricity bills from October 1, cutting around £45 from the average annual bill of around £1,862 that households pay.
With bond investors watching closely for how any fiscal support would be paid for, he said the move would be funded by savings from the cancellation of a £1.8 billion ($2.42 billion) digital ID programme, which he announced on Sunday.
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