The long summer holidays can be an expensive time for families. The cost of day trips to theme parks or zoos or soft play centres quickly adds up.

Discounts sound like a good idea. So this summer, the UK government has slashed the VAT rate from 20% to 5% on admission to a wide range of family activities.

They’ve even given the policy a catchy name: Great British Summer Savings, and in theory, a family could save a decent amount.

If a business passes on the full reduction (they are not legally obliged to), the Treasury says a family of four could save around £20 on theme park tickets for example. The temporary discount, which lasts until September 1, also applies to children’s meals in restaurants.

According to other estimates though, the cut, which will cost the Treasury around £300 million, could be worth just £10 per household. So critics could easily dismiss the whole idea as a not very impressive gesture with an expensive price tag.

But the ten-week VAT drop is also designed to help struggling hospitality businesses, thousands of which were forced to close last........

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