VAT to be cut by at least 2%!

Most people spend at least £1000 a month that is taxed with VAT and you basically get 2-2.5% more for your money. Which adds up.
I'm just saying it a bit step. VAT has stayed the same since 1974!

Your general stuff won't change much, at least in your local shops or restaurant. Big supermarket might pass the savings on but i doubt you will notice it with offers on all the time.

The main thing that will get benefits are where VAT is added later, or the prices are listed without VAT, such as professional services like Lawyers.
 
Brown is an utter joke, he's just done the pathetic tax back thing which will, just be added on in the future, he's spent some 400billion or so? on bailing out banks, that somewhat arguably he helped get into trouble in the first place over the last several years. He's now offering another tax break. Realistically he's just sending this country into even more debt and a future to be even more heavily taxed when it will be even worse for us.

IE, stop people saving now, encourage spending, probably lengthen the recession and screw us harder than needed in the next few years.

THe main problem is, our economy fails if we stop buying things and going out and spending money as that is our economy, we don't export goods anymore, we make smeg all and our economy is simply a joke.

Back when industry left out country they should have been fighting to keep them here, they should, like almost any other sane country in the world be fighting for new manufacturing plants to be built here by offering tax cuts and the like.

You think New York State is the cheapest place for AMD to build chips, considering wage's of American highly trained workers as opposed to building fabs in the middle east? so why build there, because NYS offered massive tax breaks as an incentive to build there. AS part of the project AMD is pumping what will be billions into the local economy and creating thousands of jobs. Its the kind of thing our government should have been doing for 20 years, and has instead been outsourcing more and more jobs.

But tax cuts are great, considering how massively heavily reliant we are as a society, on jobs paid out of taxes, and the number of people on, and to join our welfare programs as more jobs are lost.

Idiots. how Blair stayed in so long, or Brown is doing anything he's doing, or how this stupendously stupid country voted them back in again and again I really don't know.
 
In maybe 3 of 50 states? It isn't centrally charged and administered, it isn't a federal law.

every state has sales tax, there are some things like if you buy out of state, you don't pay it, but thats only from certain places. Generally everything you buy in the state you live in has tax on it, you simply don't pay at the till, you pay yearly basically.
 
It was the lack of savings which caused the problem in the first place and the government will just cause the same thing to happen again no doubt.
 
every state has sales tax, there are some things like if you buy out of state, you don't pay it, but thats only from certain places. Generally everything you buy in the state you live in has tax on it, you simply don't pay at the till, you pay yearly basically.

I'm not 100% certain on this, but if that is the case it is still 10.5% less than the VAT here.
 
it would have been much better to have a tax cut for the lower income brackets that way the rich who can afford everything at the moment anyway wouldn't be getting the benefits when they don't need it, £200 off a £5k purchase ain't going to matter to them yet with the lower vat rate thats what will happen and the country is losing money
 
Hmm, i wonder what he will do for businesses then.
Currently in my 2nd year of business, i charge 17.5% currently and pay to HMRC 13%. dropping it to 15% means I make less money from it. So its actually worse for me!
 
it would have been much better to have a tax cut for the lower income brackets that way the rich who can afford everything at the moment anyway wouldn't be getting the benefits when they don't need it, £200 off a £5k purchase ain't going to matter to them yet with the lower vat rate thats what will happen and the country is losing money

who says the rich can afford everything?
surely those who have spent more on property and assets have potentially lost more than the lower earners
 
well i dont see roman abramovich going around in tatty clothes, still seems happy spending thousands here and there, i know that's an extreme case but for people who have to use their entire wage just to keep the roof over their heads and food on the table there is a big difference between that and someone in a more comfortable 100k a year type job where there have been able to save and have extra income to absorb the extra price of things
 
Hmm, i wonder what he will do for businesses then.
Currently in my 2nd year of business, i charge 17.5% currently and pay to HMRC 13%. dropping it to 15% means I make less money from it. So its actually worse for me!

Why are you paying hmrc only 13%?
 
Is it even possible for the government to increase tax any more? It seems like we're at 100% now lol.
 
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meh if the Conservatives get in power they will tax tax tax and blame it on Labour, dont let Cons get into power.

Christ.

Or stick with Labour and have our civil liberties and National identity raped in the arse 'till it bleeds with our soul, and then not even the very tears of despair we shed could cleanse that "oh crap" feeling we have deep down inside.
 
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Energize, have you been on the sauce? You might want to read that again and decide how much sense it makes.

As for this, sod all difference. How much is it going to cost retailers to re-price everything? Online retailers like OcUK will be fine providing their software doesn't assume a fixed VAT rate, but how much would it to cost the high street to re-price all their goods? How many will even bother?

I suppose it will put extra money in retailers' pockets if they don't re-price though, which isn't a particularly bad thing in itself.

As for the political debate - have a Meh! from me. Right now it'll make sod all difference who is in power as they'll have to spend all their time firefighting anyway. Labour emptying the cupboards won't help, but sorry to break it to you all - that's history.
 
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