The UK government has introduced a new initiative, the Great British Summer Savings scheme, designed to alleviate the financial pressure on families during the summer holidays. The £300 million program, which runs until September 1, includes measures such as reduced Value Added Tax (VAT) on children's meals and entertainment, as well as free bus travel for children aged five to 15 in England.
The VAT reduction applies to meals for children served in restaurants, and to tickets for cinemas, shows, exhibitions, and outdoor venues and activities. However, attractions operated by local authorities are already exempt from VAT and therefore are not impacted by this specific measure.
Financial experts have noted the potential benefits of the scheme. Susanna Streeter from Wealth Club commented that the savings should help lighten the financial burden on families, particularly as household budgets remain strained after years of rising prices. She added that the temporary VAT cut on children's meals and entertainment is timely, given that the average cost of summer holidays can reach approximately £191 per child per week, according to estimates from the children's charity Coram.
For parents who can take time off work, Streeter suggested that a more independent approach to entertainment, such as picnics and visits to local, low-cost attractions, could offer better value. The scheme aims to provide some financial relief as families navigate the costs associated with the six-week school break.