Originally posted by SueEllen
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Knives out for George Osborne in Tory backlash
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He is a financial genius! Apparently the sugar tax (on soft drinks) will raise 520 million but will actually cost 1 billion to implement. Obviously not the sharpest tool in the box, must be the lack of a state funded education
The cost of the sugar tax has been revealed in documents published by the Office for Budget Responsibility alongside the budget. The extra cost will come from a predicted rise in accrued interest that the government will have to pay on debt that is linked to the rate of inflation.
The new tax will add 24p a litre to soft drinks with the highest sugar content, a cost that could be passed on to shoppers through higher prices, meaning inflation would rise.
The chancellor has predicted the tax will raise £520m in its first year, far less than the cost of introducing the levy.“Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.”Comment
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Originally posted by darmstadt View PostHe is a financial genius! Apparently the sugar tax (on soft drinks) will raise 520 million but will actually cost 1 billion to implement. Obviously not the sharpest tool in the box, must be the lack of a state funded education
Legal action will probably be one of those "human rights" based one, can't see how they'd win, but maybe that £1 bln cost figure refers to cost of lawyers
And yes I think that's a very Gidiotic tax.Comment
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