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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)
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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)
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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)
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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)
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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)