Cheaper summer tickets for theme parks and museums as Reeves cuts VAT

Chancellor Rachel Reeves has cut VAT on summer attractions from 20% to 5% for the school holidays, part of a package aimed at easing cost-of-living pressures on families ^[1][2].

The temporary reduction applies to tickets for theme parks, museums, zoos, softplay centres, children's theatre, and kids' meals from late June until 1 September ^[1][2]. Reeves told MPs the measures were a response to economic challenges, stating, "We have the right economic plan, but the conflict in the Middle East poses a significant challenge to the world’s economies, including our own" ^[2].

Accompanying the VAT cut, the Chancellor postponed planned fuel duty increases originally scheduled for September and December ^[2]. She also suspended import tariffs on some foods, saying, "I expect supermarkets to pass these savings on in full to their customers" ^[2].

To help fund the support, the government will reform the 'foreign branch profits' regime for multinational oil firms. Reeves said the change would ensure they "pay their fair share" and raise several hundred million pounds ^[2].

Other measures include a 10p increase in the tax-free mileage rate for workers ^[2]. The government will also allocate £350m for a critical chemicals resilience fund and £120m for the ceramics sector ^[2]. Reeves declined to detail winter support plans but said any future scheme would be "targeted and temporary" ^[2].