UK government suspending food tariffs on 100 products in major cost of living boost
Jen Thomas
Featured Image Credit: Peter Cade/Getty Images
As the cost of living crisis continues, many families have been dreading the summer holidays this year as the price of feeding everyone rises.
The Chancellor has announced their 'Great British Summer Savings' plan, in a bid to help British families enjoy their summer.
As well as announcing free bus travel for children across the UK, there will also be cost cuts to many different types of food, including child-friendly favourites like biscuits, chocolate, dried fruit and nuts.
The tariff suspensions are expected to help Brits save more than £150 million per year.
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The full list of products will be published next week.
It has been said that the list takes domestic production into account as well as food security, and does not include any significant UK primary agriculture production.
With the previously announced agri-food tariff suspensions, this will increase savings from £100 million to £400 million each year.
It comes after the Food and Drink Federation forecasted an increase of 10% for food price inflation by the end of the year due to the Iran war.
Food inflation rose by 3 per cent for April, according to inflation figures, compared to the general inflation rate of 2.8 per cent.
There are also fears of a Diet Coke shortage due to the war, too, with the conflict causing many problems.
It was previously confirmed that import tariffs were being removed for pasta, oranges, peaches, juices, tuna and other stapes from the end of April until the end of 2028, according to The Grocer.
The BBC reports that government ministers have also been pressuring many supermarkets to cap the price of milk, eggs and bread.
Treasury secretary Dan Tomlinson confirmed talks with supermarket bosses had taken place to discuss 'the steps that they can take to support people with the cost of living'.
Marks & Spencer's chief executive Stuart Machin called the suggestion of a voluntary price cap scheme as 'completely preposterous'.
Tomlinson said: "It's right that the government looks across the board at what more we can do - both government levers but also talking to industry about the steps that they can take to support people with the cost of living."
Prime Minister Sir Keir Starmer said: "We know many hard‑working families are still feeling the squeeze and too often think they have to hold back.
"By giving every child free bus travel throughout August and cutting tariffs on everyday food items, we’re putting money back into people’s pockets and making life that bit easier."
He added: "This government is focused on practical steps that help right now — easing pressure on household budgets, supporting parents during the school holidays, and backing British businesses."
Chancellor of the Exchequer Rachel Reeves said: "My number one priority is protecting households from rising costs. This summer I want every family to be able to enjoy themselves, that’s why we’re launching the Great British Summer Savings Scheme, and why we’re helping kids with free bus travel throughout August.
"As the war in Iran pushes prices up at home, my economic plan is the right one. I will continue to make the right choices, to protect households and businesses, and build a stronger and more secure Britain."
The response has been mixed so far.
One social media user wrote: "So the government are considering dropping the prices of biscuits, chocolate, dried fruit and nuts, WTAF, how does that help anyone."
"Ban junk food adverts then make junk food cheaper... genius," wrote another.
However one fan praised: "Excellent News! British politicians doing what’s right for Britain."