LONDON — Chancellor Rachel Reeves has announced plans for targeted food tariff cuts as part of a package of measures aimed at easing the cost of living.
On Thursday, the chancellor said the government was launching a business engagement exercise with a view to making further cuts to agri-food tariffs, suspending duties on over 100 types of products including biscuits, chocolate, dried fruit and nuts.
“As the war in Iran pushes prices up at home, my economic plan is the right one,” Reeves said. “I will continue to make the right choices, to protect households and businesses, and build a stronger and more secure Britain.”
Reeves said the benefit to consumers would be more than £150 million a year, with a full list of products set to be published next week as the government begins talks with industry.
