UK launches ‘Great British Summer Savings’ to ease family costs

Families to benefit from reduced VAT to help lower costs at theme parks, theatres, zoos, and museums.The British government has launched a scheme aimed at helping families reduce the cost of children’s meals and summer activities, including visits to theme parks, theatres and museums.From June 25 to September 1, 2026, VAT will be temporarily reduced to help lower the cost of days out and boost customer numbers for struggling businesses, according to a government statement released on Thursday.Recommended Stories list of 3 itemslist 1 of 3Former UK Health Secretary Wes Streeting announces bid to replace Starmerlist 2 of 3‘King of the North’: Who is Andy Burnham, a potential UK prime minister?list 3 of 3US extends sanctions waiver on Russian oil: Why it mattersend of listThe initiative, dubbed the “Great British Summer Savings” scheme, is intended to ease pressure on household budgets while supporting the leisure and hospitality sectors.Children aged five to 15 will also be able to travel free on local bus services throughout August.The programme is estimated to cost about 300 million pounds ($403m), the government said.“When I think about the summer holidays, I think about the Lake District – where I went as a child and later made memories with my own family,” Prime Minister Keir Starmer said.“I know how precious that time is, yet too many parents feel they have to hold back because the cost of living is still squeezing budgets,” he added.Chancellor Rachel Reeves announced that VAT would be temporarily reduced from 20 percent to 5 percent until children return to school in England, Wales and Northern Ireland.The reduced rate will apply to children’s menus, family tickets for cinemas, theatres, concerts, shows and exhibitions, as well as admission tickets to attractions including amusement parks, fairs, museums and zoos.“I know the cost of living remains the number one concern for many households. Our economic plan is the right one – supporting families and businesses while building a stronger and more secure Britain,” Reeves said.