Asda chair Rose urges VAT cut to combat cost of living crunch
Asda chair Lord Stuart Rose believes the government should consider reducing VAT or further cutting fuel tax to help ’kill’ inflation, which is prompting shoppers to limit their spending.
Rose said that such measures would be “helpful” and that more should be done to ease the burden on low income households. He made his comments just before the latest ONS data revealed that UK inflation had reached 9.1% in May – a 40-year high just ahead of the 9% recorded in April.
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