Cut VAT to save families in Bedford £33,720,000, say town's Liberal Democrats

Bedford Borough Liberal Democrats have demanded an emergency cut to VAT to protect families from soaring bills.

They are calling for the standard rate of VAT to be reduced from 20 per cent to 17.5 per cent for one year, a move that would save households in Bedford an average of around £600 each.

This would mean putting around £33,720,000 back in the pockets of 56,200 families across the borough.

The plans were set out by Liberal Democrat leader Ed Davey at the party’s spring conference this weekend and have been backed by mayor Dave Hodgson and Bedford Borough Liberal Democrats.

It comes amid warnings the war in Ukraine will worsen the cost of living pressures facing households, with energy, food and fuel bills all expected to rise. Inflation is also forecast to reach 8 per cent in April, its highest level in decades.

Councillor Henry Vann, Liberal Democrat portfolio holder for town centres & planning, said: “People across our community are worried about how to make ends meet as bills go through the roof.

“An emergency cut to VAT would offer a massive boost to people in Bedford borough feeling the pinch by putting over £30 million back into their pockets. It would also support our treasured shops, local businesses, cafes and restaurants by boosting spending on the high street."