but I don't see a problem in raising VAT to a European standard, perhaps even going the way of the Scandinavians and hitting the big 25%
It's really hard to take into account the subtleties of things like reducing public order, defence and the NHS, and especially the last one "other". I managed to save £28.2 billion on "other" alone.
25% VAT generates 36 billion smackaroonies.
(, Tue 22 Jun 2010, 12:40, Reply)
if you don't want something - then don't buy it - it sounds daft but many things are too cheap at the moment. Products that are overpriced anyway will be reduced in price to make up for the vat increase
(, Tue 22 Jun 2010, 12:45, Reply)
I believe that the bare essentials, like food and baby type items are VAT free and therefore a raise in VAT only affects the "luxury" items (and ahem, businesses).
(, Tue 22 Jun 2010, 12:51, Reply)
So when VAT goes up, so does your food. Even though its VAT-exempt.
Besides which, Georgy Boy has just raised VAT to 20%
(, Tue 22 Jun 2010, 13:15, Reply)
hence the brackets... but still less of an impact hopefully than other cutbacks. For example the 15% to 17.5% affected me and my business marginally at best..
(, Tue 22 Jun 2010, 13:43, Reply)