Thursday, 22 September 2011

Government Set for £197M Tax Windfall from Energy Price Rises

The Government is set to rake in a £197 million VAT windfall from rises in domestic gas and electricity prices, it can be revealed today.

The independent price comparison website said this will take the annual VAT take from domestic energy to £1.5 billion because of recent bill increases – and called for the VAT rate on power to be cut from 5% to 4% to give back the money to hard-pressed customers.

Mark Todd, director of, said: “It may alarm, if not anger people to find out that the UK Government will scoop a VAT windfall of £197million from the recent round of energy price rises.

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