Overview
- The Treasury published a list of 125 imported food and grocery products and opened a formal consultation on Wednesday that runs until June 24 to decide whether tariffs will be suspended.
- The proposals are part of Chancellor Rachel Reeves’s ‘Great British Summer Savings’ package, which also includes a fuel duty freeze, a rise in the tax-free mileage rate from 45p to 55p and temporary VAT cuts on some family attractions.
- Officials are separately consulting on suspending tariffs on certain fertilisers to help farmers facing higher costs after shipping disruption linked to the closure of the Strait of Hormuz.
- The published list mixes everyday staples such as baked beans, bread and olive oil with less common items such as avocados, quinoa and fonio, prompting public and political criticism that some choices do not reflect a typical weekly shop.
- Ministers say any price relief depends on the consultation outcome and implementation timing, so shoppers may see only modest, gradual falls in some grocery prices and further energy-related support could follow later in the year.