Burnham cuts VAT on household electricity bills; UK borrows less than expected in June – business live

Rolling coverage of the latest economic and financial newsPaul Nowak, general secretary of the TUC, says that the economic data released today show that Burnham is “doing the right thing by pledging action on the cost of living”.Working people are up against it with stagnant real pay, over a million people stuck on insecure zero-hour contracts, and a million young people not in employment, education, or training.Cutting VAT on energy bills will provide some welcome relief. But with Donald Trump’s illegal war in Iran continuing to drive up bills, the government will need to go further. The new prime minister