News Feed

A huge boost has been handed to UK households after the government announced a sudden tax cut which will see the price of 89 common items reduced including fruit juice, hoovers and pasta.

The UK government has announced it is cutting import tax on 89 common items in response to the increasing uncertainty surrounding exports to the US following Donald Trump’s ongoing see-sawing tariffs blitz. In response, the UK’s Global Tariff will be temporarily suspended on 89 products, the government announced today, Sunday April 13, saving at least £17M per year for businesses importing materials and products into the UK.

The Department for Business and Trade announced today: “Working in partnership with industry, the government has decided to suspend import tariffs on a whole range of products to lower costs for businesses, tariffs will now be cut to zero until July 2027.

“The savings to businesses on products such as pasta, fruit juices, coconut oil and pine nuts could be passed onto consumers just in time for the summer season, meaning lower food prices in supermarkets, restaurants and pubs.

“Products including agave syrup, often used in margaritas, and plant bulbs will also see tariffs removed meaning keen cocktail-makers and amateur gardeners could enjoy lowered costs as the warmer weather approaches."

The government said the tax cut will see prices ‘slashed on 89 foreign products ranging from pasta, fruit juices and spices to plastics and gardening supplies over the next two years’.

Business and Trade Secretary Jonathan Reynolds said: “Free and open trade grows economies, lowers prices and helps businesses to sell to the world, which is why we’re cutting tariffs on a range of products.

“From food to furniture, this will reduce the cost of everyday items for businesses, with savings hopefully passed onto consumers.

"As we face a new era of global trade, this government is going further faster to make Britain the best country to do business, delivering on our Plan for Change. These suspensions are just another example of that."

Chancellor Rachel Reeves said: “In a changing world we know families are anxious about the cost of living, and businesses uncertain about their future. That’s why we’ve announced lower prices on imports of everyday essentials - helping businesses to thrive and pass on savings to customers. Through our Plan for Change we’re supporting British business and putting more money in people’s pockets.”


Source link

Leave A Comment


Last Visited Articles


Info Board

Visitor Counter
0
 

Todays visit

42 Articles 7536 RSS ARTS 13 Photos

Popular News

🚀 Welcome to our website! Stay updated with the latest news. 🎉

United States

13.58.229.23 :: Total visit:


Welcome 33.58.339.33 Click here to Register or login
Oslo time:2025-05-01 Whos is online (last 10 min): 
1 - United States - 83.88.229.23
2 - United States - 34.030.45.47
3 - United States - 28.878.287.883
4 - Singapore - 17.118.10.171
5 - United States - 3.236.86.344
6 - United States - 04.205.070.00
7 - United States - 92.204.99.8
8 - Singapore - 47.79.699.666
9 - United States - 68.264.89.56
10 - Singapore - 42.29.224.0
11 - United States - 2.245.205.294
12 - United States - 64.666.603.64
13 - Singapore - 47.79.232.95
14 - Singapore - 47.79.272.737
15 - United States - 44.708.773.68
16 - United States - 68.205.96.606
17 - United States - 18.208.11.11
18 - Singapore - 47.328.40.232
19 - Singapore - 07.028.90.083
20 - United States - 52.202.82.228
21 - United States - 52.201.152.211
22 - United States - 34.394.95.99
23 - United States - 50.86.286.866
24 - United States - 107.11.108.39
25 - United States - 23.23.103.31
26 - United States - 3.223.989.32
27 - United States - 34.996.994.970
28 - United States - 98.83.878.66
29 - Singapore - 47.79.114.78
30 - United States - 52.33.350.335
31 - Singapore - 47.79.296.89
32 - Singapore - 43.39.393.246
33 - Singapore - 47.323.323.245
34 - United States - 52.45.494.465
35 - United States - 08.205.200.200
36 - United States - 23.29.979.920
37 - Singapore - 47.128.25.203
38 - Singapore - 47.79.444.45
39 - United States - 43.58.487.408
40 - Singapore - 40.09.098.000
41 - United States - 3.637.672.252
42 - Germany - 564.92.592.563
43 - Singapore - 47.79.202.80
44 - Singapore - 47.118.111.14
45 - Singapore - 47.628.60.89
46 - United States - 3.333.333.227
47 - Singapore - 77.79.792.50
48 - Singapore - 47.528.23.240
49 - United States - 56.603.65.83
50 - Singapore - 47.79.203.200
51 - Singapore - 47.79.798.72
52 - United States - 6.645.45.670
53 - Singapore - 47.78.282.888
54 - Singapore - 47.728.777.744
55 - Singapore - 88.89.282.220
56 - Singapore - 47.79.999.222
57 - United States - 3.33.232.224
58 - Singapore - 47.728.722.775
59 - Singapore - 47.428.35.247
60 - United States - 43.566.244.592
61 - United States - 43.48.424.29
62 - Singapore - 47.75.555.225
63 - Singapore - 46.69.696.682
64 - Singapore - 47.73.338.330
65 - United States - 93.58.36.999
66 - Singapore - 47.428.96.473
67 - Singapore - 43.328.29.233
68 - Singapore - 17.79.199.196
69 - United States - 3.928.953.992
70 - Singapore - 07.020.20.5
71 - Singapore - 47.79.203.53
72 - Singapore - 47.728.63.736
73 - Singapore - 47.79.242.237
74 - Singapore - 47.338.333.383


Farsi English Norsk RSS