things are going to be tuff!

VAT is actually lower in the UK than many other countries in the EU where 19%-21% is the norm. A 2.5% rise in VAT won't have much effect on the pockets of the individual, althought it will be felt keenly by business, with the reduced proitabilty of goods, which would probably be discounted to compensate, as happened in January.

Putting 6p onto Income Tax however sounds highly doubtful, less directly felt public services and raising indirect taxation such as fuel duty and the cutting of benefits is far more likely to make up that shortfall.
 
tough times ahead? probably, but we're not going to starve. we just have to pull our belts in a bit an like true brits grin and bear it(and moan like hell for the duration).
lets just hope whoever gets voted in next week has the balls and common sense to make the right decisions, however tough to bring us through.personally I think the next few years are going to be tough on us all but lets not wallow in self pity or blame everyone else,lets just get on with it and make the best of what we have.
 
Well I guess we will still all have food on our table, a roof over our heads and we can't be doing too bad as we all have internet access ... so yes it might be a bit of a pull the belt in but seriously we are still going to better off than plenty of places on this planet.
 
That's what happens when a short sighted socialist ignorant of history decides there'll be no more 'bust' part of boom & bust, and spends all the countries reserves.

I don't worry for myself, as I have 30 years work left in me. I'm very scared for my parents however who've worked all their lives and their pensions are now going to be worth bubblegum.
 
2blue4u said:
If only I was in a business that does well in times of recession.

Oh, wait. I am. Both my businesses :D
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But for how long? I thought I was too but though we're still doing OK, I wouldn't use the word 'well' any more. :(

No doubt we're in for a decade of pain. Anyone who thinks eliminating 11.6% GDP of budget deficit is going to be easy is kidding themselves - and that's just the start.
 
Berserker said:
But for how long? I thought I was too but though we're still doing OK, I wouldn't use the word 'well' any more. :(

No doubt we're in for a decade of pain. Anyone who thinks eliminating 11.6% GDP of budget deficit is going to be easy is kidding themselves - and that's just the start.
Click to expand...

Believe me, there are some sectors that not only survive in a recession but thrive.
 
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