Press release

23 Mar 2022 London, GB

EY - Spring Statement: “No income tax, no VAT …”

The Spring Statement had echoes of “Del Boy” with cuts in income tax (down to 19% from 2024) and VAT (zero rates for solar panels), as well as helping not just those driving three-wheelers with a 5p cut in fuel duty.

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Senior Manager, Media Relations, Ernst & Young LLP

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Related topics Tax
Chris Sanger, EY’s Head of Tax Policy, comments:

“The Spring Statement had echoes of “Del Boy” with cuts in income tax (down to 19% from 2024) and VAT (zero rates for solar panels), as well as helping not just those driving three-wheelers with a 5p cut in fuel duty.  However, whilst the Trotters didn’t give “money back”, the Chancellor did by adding support for energy bills and household support. As for guarantees, we’ll have to wait for the Autumn Budget.”

For all our Spring Statement analysis visit our dedicated web page.