Petition · past parliament · HM Treasury
Cut the standard VAT rate from 20% to 12.5% to encourage economic growth
Closed
38 signatures
What the petition asks
To encourage strong economic growth, the rate of Standard VAT needs to be reduced, ideally for a minimum of 5 years.
This should encourage investment and help sustain economic growth and make Britain more attractive to businesses and investors.
Our economy is in peril and we believe one of the fairest ways to help low income households is to reduce the burden of taxation by lowering the standard rate of VAT.
Lower VAT rates stimulate growth and investment, but we need to go further than the previous 15% VAT rates of the past and look at bringing in a VAT rate that helps to support our country through global uncertainty.
The increase in trade that a reduction could generate should make up for the initial drop in tax revenue collected.
Our economy is in peril and we believe one of the fairest ways to help low income households is to reduce the burden of taxation by lowering the standard rate of VAT.
Lower VAT rates stimulate growth and investment, but we need to go further than the previous 15% VAT rates of the past and look at bringing in a VAT rate that helps to support our country through global uncertainty.
The increase in trade that a reduction could generate should make up for the initial drop in tax revenue collected.
Timeline
| 5 Oct 2022 | Petition opened for signatures |
| 5 Apr 2023 | Closed to new signatures |
Key facts
Signatures
38
Status
Closed
Department
HM Treasury
Opened
5 Oct 2022
Closed
5 Apr 2023
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Source: the official petition page. Last checked 15 Jul 2026.