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Coffee House Shots

Has Rishi U-turned on tax cuts?

Coffee House Shots

The Spectator

Politics, Daily News, News

4.42.2K Ratings

🗓️ 27 July 2022

⏱️ 10 minutes

🧾️ Download transcript

Summary

Having spent the last four debates suggesting that tax cuts are irresponsible and immoral, Rishi Sunak says he will cut VAT on energy bills if he becomes the next prime minister. Those defending him have suggested that this particular tax cut is temporary, it is funded and will help ease the cost of living crisis. Are they right?

Katy Balls is joined by Kate Andrews. 

Produced by Natasha Feroze.

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Transcript

Click on a timestamp to play from that location

0:00.0

This podcast is sponsored by Canacord Genuity Wealth Management,

0:04.3

award-winning wealth managers who go above and beyond to support and guide you.

0:09.1

Visit candewelth.com to start building your wealth with confidence.

0:17.2

Hello and welcome to Coffee House Shot,

0:18.9

suspected daily politics podcast.

0:21.1

I'm Katie Balls, and I'm your advocate Andrews.

0:24.5

Now, we've had a change today from Rishi Sunak.

0:28.4

Some are calling it a U-turn.

0:30.5

Some are just saying it's a different way of looking at the world than perhaps

0:34.9

the first stage of his campaign.

0:36.9

The cars outside disagree with that analysis.

0:38.9

Yes, that was a protest as already protesting this podcast.

0:43.0

Now, Rishi Sunak has proposed a VAT cut on energy bills.

0:47.5

Before we get to what this means for his campaign, can you just talk us through

0:51.2

the specifics of the policy?

0:52.8

Sure, so he's put forward today a temporary one-off cut to VAT on energy bills,

1:00.4

and it is estimated that this would save your average households around 160 pounds a year.

1:05.8

Now, this was a lever that he was thinking about polling if we go back to February and May,

1:10.4

the two huge spending support packages that we had then to help with energy bills.

1:15.6

But the concern, when he was Chancellor, was that this would be a really easy target for

1:20.7

the labor party and others to say, well, this is actually just a handout for the wealthy,

1:24.4

because VAT is a tax on consumption, so the people who consume the most are paying the most VAT.

...

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