Rachel Reeves to cut food and travel costs – what will be announced

• Rachel Reeves, the Chancellor, is introducing a package of measures to alleviate the cost-of-living crisis exacerbated by the Iran war.
• The government will cut import tariffs on over 100 products, including biscuits and chocolate, which is expected to save consumers more than £150 million annually.
• A 'Great British Summer Savings' scheme will provide free bus travel for children aged five to 15 across England during August, funded by over £100 million.
• These initiatives aim to counter rising prices, with the household energy price cap predicted to increase by £209 a year from July due to the Middle East conflict.
• While inflation recently dropped to 2.8% in April, it is forecast to surge again, and ministers are cautious about universal bailouts, favouring targeted support later in the year.

IN FULL

Cheaper food and free bus rides for children in Reeves’ cost-of-living plan