Chat & Social > The Bar - General Chat

VAT to be cut by 2.5%!!

<< < (2/7) > >>

MuddyMike:
What would the pound shops do?
 Become 97.8p shops :-)

Mike

crazymac:
The only possible saving I can see myself making from this will be in my MOT soon??

solihull-mick:
Vat isnt put on MOT tests,  :grin:

V8MoneyPit:
Many businesses have been having a hard time of it with rising costs and reduction in retail sector spending. The problem with reducing VAT is that businesses may see it as an oportunity to put their prices up to make up for losses they have been seeing. That way, retail customers won't see any price reductions at all.

If they were to reduce income tax, people would genuinely see more money in their pocket and be tempted to spend it. That is what they are trying to encourage, after all.

Disco Matt:
They're talking about a 45% income tax band for people earning £150k plus to fund it - don't think that will affect many of us, but it'll do a nice job on the bankers who are responsible for the whole mess!  :lol:

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