Rachel Reeves has announced the rate of VAT on summer attractions such as zoos and cinemas will be temporarily cut from 20 per cent to 5 per cent. She has also suspended tariffs on over 100 different foods sold in supermarkets, which is thought to include stapes such as baked beans and biscuits. The chancellor told the Commons she expected supermarkets to pass these savings “in full” to customers, and said she will “not tolerate any company exploiting the current situation”. Watch more on