UK Business Calls For Scrapping Taxes on Electricity Bills

The large businesses in the UK have urged the government to remove taxes on electricity bills for business to make Britain more competitive and energy costs more affordable amid escalating energy prices that hurt both consumers and industry. In one of his first moves as the UK’s Prime Minister, Andy Burnham in July announced that the new Labour government would scrap the 5% value added tax (VAT) on household electricity bills to help Britons cope with rising energy costs. All suppliers are expected to pass the VAT reduction on to all customers,...