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Rachel Reeves has announced a huge change which could mean a change to how much a day out at UK zoos, museums or theme parks could cost. The Chancellor told MPs that she would cut VAT for attractions over the summer. She also confirmed to MPs that children aged between five and 15 would receive free bus travel across England during August.

Ms Reeves said: “I recognise that what matters for families is not just getting by but being able to enjoy time together without worrying about the next bill. That is why I am launching the Great British Summer Savings scheme to help families and support our hospitality sector. So I can today announce a temporary cut in the rate of VAT on summer attractions from 20% to 5% over the summer holidays. This will apply to ticket prices for both adults and children, covering attractions such as fairs, theme parks, zoos and museums.

She added: “It will include children’s tickets for cinemas, concerts, soft play and the theatre, and it will cut the cost of children’s meals in restaurants and cafes from 20% VAT to 5% as well.

“These changes will apply across the UK from the start of the Scottish school holidays on June 25 and run until the end of school holidays in England, Wales and Northern Ireland on September 1.”

The Government’s “Great British Summer Savings” scheme is estimated to cost around £300million, the Treasury said.

Final costings are due to be outlined at the next Budget, following scoring from the Office for Budget Responsibility (OBR), the department added.

It also said that ministers expects businesses to pass on VAT savings from the cut from 20% to 5% on summer activities to customers.

HMRC has published guidance for businesses on how to operate the scheme.