Tory leadership frontrunner understood to have discussed move, with final decision coming after contest ends

Liz Truss is considering whether to reduce VAT by 5% across the board, which could save families £1,300 a year, it was reported.

The foreign secretary is understood to have discussed the move with her advisers but no final decisions will be taken until the Conservative leadership contest concludes on 5 September, according to the Sunday Telegraph.

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