Chancellor Rachel Reeves announces a cost-of-living package that includes cutting VAT on selected summer leisure activities to 5% during school holidays. The lower VAT rate is set to apply to attractions such as theme parks and soft play centres, aimed at reducing costs for families during peak seasonal spending. Reeves also confirms that fuel duty increases are frozen, as part of efforts to limit household expenses. In her statement to MPs, Reeves says she will raise additional tax receipts from global oil giants operating in the UK to help fund her wider plans. The announcement comes amid economic pressure on households, including higher prices linked to the war in Iran, which has affected oil markets. Some coverage notes Reeves does not provide immediate direct help with energy bills, even as charities have urged more substantial action. Overall, the measures combine targeted VAT relief for summer activities with funding steps involving increased taxation of oil companies, alongside a maintained freeze on fuel duty rises.