Monday, November 24, 2008
Cut in VAT 17.5% to 15%
We are currently lead by complete Moron's. A cut in VAT from 17.5% to 15% WILL NOT stimulate the economy. In our case over 90% of our budget is food, Council Tax, Petrol and Energy, non of which will be reduced. Given that we face the fact that interest from our saving will fall and we are going to have to cut back hard. I will be very surprised if retailers will pass on the saving as they are already cutting their prices by 10-20%. Also the people who will gain most are foreign producers It will cost business money to change the rate and then change it back again in a years time. Labour may have been right that we need a financial stimulus, but this is not going to be one, all they have done is run up a huge debt with no gain, what a complete bunch of Muppets
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