Chancellor Rachel Reeves has announced proposed tariff cuts on 125 everyday essentials, including avocados, limes, green tea and olive oil, aiming to reduce costs for households amid rising prices due to conflict in the Middle East.
The Treasury will consult on the tariff cuts from Wednesday until June 24. The government is also considering suspending tariffs on some fertilisers to help farmers affected by the closure of the Strait of Hormuz.
The announcement is part of the Chancellor's 'Great British Summer Savings scheme', which includes cuts to ticket prices for summer attractions, theatres, concerts and cinemas, as well as scrapping plans to increase fuel duty.
Ms Reeves said: 'The war in Iran isn’t our war, but one we will need to respond to, and my priority is keeping prices down for households and businesses.' She added that it is important for households to 'enjoy time together without worrying about the next bill'.
