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In response to the late-2000s recession, Labour Chancellor Alistair Darling announced in November 2008 that the standard rate of VAT would be reduced from 17.5% to 15% with effect from 1 December 2008. [16] [17] However, in December 2009, Darling announced that the standard rate of VAT would return to 17.5% with effect from 1 January 2010. [18 ...
The January 2008 Energy Bill updated the legislative framework in the UK to reflect government policy towards the energy market and the challenges faced on climate change and security of supply. Key elements of the bill addressed nuclear, carbon capture and storage , renewables , and offshore gas and oil .
Energy charges are the cost per kWh (kilowatt hour). They are usually given as pence per kWh (p/kWh), an amount often referred to as the unit price or unit rate. [ 11 ] The cost of the electricity (without surcharges) is occasionally negative during low consumption and high winds, starting in 2019.
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Which? has urged the Government to reduce VAT on household telecoms bills to 5% in line with other essentials such as gas and electricity.
Map of the world showing national-level sales tax / VAT rates as of October 2019. A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the sigma falls differently on different groups in each country and sub-national unit.
Different rates of VAT apply in different EU member states. The minimum standard rate of VAT throughout the EU is 15%, although reduced rates of VAT, as low as 5%, are applied in various states on various sorts of supply (for example, domestic fuel and power in the UK). The maximum rate in the EU is 25%.
Chief amongst these was his decision to raise VAT on domestic energy bills, which would be phased in from April 1994 when VAT of 8% would be levied. This was scheduled to increase to 17.5% from April 1995. Increases in a number of income-related benefits were also announced as a way to offset the extra cost.