In two weeks, the Chancellor will announce her Budget, in what could be a make or break moment for the Government.
The stakes couldn’t be higher.
People work hard all month but have almost nothing left over after sky-high bills and spiralling food prices - meaning they are being priced out of even small joys like a restaurant meal or family day out.
High street businesses are being hammered by the jobs tax and higher business rates bills, as many are boarded up, taking with them vital jobs and local community spaces.
We need real ambition to turn this around. So, yesterday, I set out the Liberal Democrats’ bold alternative.
We’re calling for an emergency ‘households and high streets’ support package, to cut energy bills and boost hospitality businesses - putting £270 in the pockets of the typical household. This would last up to April 2027 and be paid for by a new, time-limited windfall tax on the big banks.
The Liberal Democrats would slash VAT from 20% to 15% for pubs, restaurants, entertainment and accommodation venues, making going out affordable again, boosting local businesses, and helping to save our high streets.
We’d also remove the main renewables levy from energy bills, instead paying for it with revenue from the bank windfall tax, to ensure that renewable energy keeps receiving support while bringing down bills. This would cut the typical electricity bill by over £90 a year, and households with electric heaters, many of whom are on low incomes, would see an even bigger saving of around £250 a year.
Our windfall tax on the big banks would also help fund a new Energy Security Bank, offering cheap loans for families and small businesses to make energy-saving home upgrades.
These steps would ease the cost of living, restore our high streets, and immediately boost the economy - giving the British people a much-needed morale boost.
This is a bold, fair vision for our economy - one that delivers real change and takes everyone with us.
As the Budget approaches, let’s stand up for hardworking families and our high streets. Please share our plans with your friends and family, to make our voice heard.
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