The Mirror is calling for VAT on energy bills to be scrapped as experts warn rocketing prices will plunge millions into poverty. With households facing a wave of increases in April, we want the Treasury to ditch the tax to reduce the burden. VAT of nearly 5% is included in what households pay for their gas and electricity. Scrapping it would save £60 on the typical annual bill now, but could be worth £100 a year if a price cap is hiked as expected in April. Our call comes as Bank of England figures showed households are putting more on credit cards but less in savings. Experts said rocketing energy prices could plunge millions of people into poverty ( Image: Getty Images/iStockphoto) Labour, which has called for VAT on energy to be dropped, says rising energy bills will hand Chancellor Rishi Sunak a £3.1billion windfall since his October Budget . It says this would more than cover the projected £2.4bn cost of removing VAT from gas and electricity bills over the winter. Prime Minister Boris Johnson promised during the 2016 EU referendum that the UK would be able to remove VAT on energy bills after Brexit . Boris Johnson has… Read full this story
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