tories 20% VAT plan.

[BolshieBastard]

Nice. That should aid recovery!


http://www.telegraph.co.uk/news/news...or-20-VAT.html

The Conservatives are studying plans to increase VAT to 20 per cent if they win power at the next election as part of an “emergency” package to pull Britain out of the red.

[PM-Junkie]

If you seriously think that whoever wins the next election they won't increase the tax take pretty quickly one way or another, then you take naivety to a whole new level.

[Not So Wise]

At least that would provide some benefit (to gov debt) unlike the VAT reduction which helped nothing and is costing an absolute fortune

[Menelaus]

Worryingly I fear that whoever wins the next election the ****-ups made by PWC (Party of War Criminals) means that we've got lean times ahead.

[MrMark]

Just as I don't believe the Tories would have prevented this crash (remember that as late as 2007 they were calling for more de-regulation), I don't believe NuLab have any alternative to raising taxes. I can see both parties going for the 20% VAT option simply because it's relatively easy to implement. Higher income tax will just push more higher earners abroad. I suspect also that VAT will be extended to goods that currently have exemptions.

I would like to see where cuts are going to take place though (as they must). CallMeDave has already stated that the NHS, Tax Credits and Overseas Aid will not be cut. At least the Tories admit that there will have to be major cuts - currently NuLab are in denial.

[Fred Bloggs]

20% VAT is inevitable, along with a squeeze to the FRS VAT scheme.

[Bagpuss]

This would never happen under the Tories

[centurian]

20% VAT is inevitable, along with a squeeze to the FRS VAT scheme.

That already happened when the VAT rate went down. Because the flat rates didn't move by as much, I'm £300 pa worse off as a result.

The VAT rate cut was supposed to help small business. If this is the governments idea of help, FFS what will it be like when they decide to get mean.

[Fred Bloggs]

That already happened when the VAT rate went down. Because the flat rates didn't move by as much, I'm £300 pa worse off as a result.

The VAT rate cut was supposed to help small business. If this is the governments idea of help, FFS what will it be like when they decide to get mean.

Correct, same here.

[tim123]

Just as I don't believe the Tories would have prevented this crash (remember that as late as 2007 they were calling for more de-regulation), I don't believe NuLab have any alternative to raising taxes. I can see both parties going for the 20% VAT option simply because it's relatively easy to implement. Higher income tax will just push more higher earners abroad. I suspect also that VAT will be extended to goods that currently have exemptions.

I would like to see where cuts are going to take place though (as they must). CallMeDave has already stated that the , Tax Credits will not be cut.

Did he?

I am sure that I saw their spokesman on TV saying that paying credits to people on 60K was absurd (and they'd be right!)

tim