Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether her Department plans to remove VAT on audiobooks.

There are no current plans to remove VAT on audiobooks. VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. VAT is the UK’s second largest tax, forecast to raise £171 billion in 2024/25.

Tax breaks reduce the revenue available for vital public services and must represent value for money for the taxpayer. Exceptions to the standard rate have always been limited and balanced against affordability considerations.

Evidence suggests that businesses only partially pass on any savings from lower VAT rates. In some cases, reliefs do not represent good value for money, as there is no guarantee that savings will be passed on to consumers.

The Chancellor makes decisions on tax policy at fiscal events in the context of the overall public finances.