The Great British Summer Savings scheme is poised to inject a significant £150 million into family coffers this summer, as major UK businesses pledge to absorb a temporary VAT cut. The initiative, launched by Chancellor Rachel Reeves, seeks to mitigate rising living costs and provide families with more affordable days out.
Key players in the industry have already committed to participating, including Cineworld, which will pass on the savings to customers alongside its existing cinema promotions, and Merlin Entertainments – owner of Alton Towers Resort and The London Eye – which is set to offer two theme parks for the price of one. Other notable participants include Devon-based Crealy Theme Park and Cornwall's Camel Creek Family Adventure Park.
The scheme will benefit families in three key areas: VAT reductions on children's meals, theatre tickets, and cinema tickets; discounted or free entry to soft play centres, adventure parks, and theme parks; and the introduction of 'kids-go-free' offers from participating businesses. With over 30 major attractions already signed up, including Haven and Paultons Park at Chessington World of Adventure, families can expect a welcome respite from rising living costs.
Chancellor Reeves met with business leaders to discuss the scheme's implementation and expressed her gratitude for their support in passing on the VAT savings ahead of the official launch date. The Great British Summer Savings scheme is set to go live on 25 June, providing families with a timely opportunity to enjoy affordable days out.
According to estimates, the temporary VAT cut will translate into a £3-£5 saving per family visit, although this figure may vary depending on individual circumstances and the specific attractions visited. With an estimated 10 million UK families set to benefit from the scheme, the total savings could reach as high as £1.5 billion.