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<p>VAT is the UK’s third largest tax forecast to raise £161 billion in 2023/24, helping
to fund key spending priorities such as public services, including the NHS, education
and defence. Exceptions to the standard rate have always been limited by both legal
and fiscal considerations.</p><p> </p><p>VAT is a broad-based tax on consumption and
the 20 per cent standard rate applies to most goods and services. Exceptions to the
standard rate have always been limited by both legal and fiscal considerations. This
request should be viewed in the context of over £50 billion of requests for relief
from VAT received since the EU referendum.</p><p> </p><p>Although there are no current
plans to reduce VAT on broadband social tariffs, the Government keeps all taxes under
review.</p>
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