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Govt Income Sources In A Spreadsheet

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The attached file is the govt income figures (including Feb 11).

I have been wondering when the Govt is going to be getting a surge in VAT receipts off the back of the oil price rise. One fact is they put VAT up to 20% and then the oil price rose meaning that the price of petrol went up and because VAT is a percentage of the selling price then the Govt goes Kerching again. But there is no indication of this in the breakdown figures.

Does anybody know how the supermarkets pay the vat is it monthly or monthly in arrears or is it three monthly? I am really interested if there is some politicing going on that Osbourne has a budget before his coffers are swelled by VAT from petrol and then claims some stroke of genius and slaps Balls round the chops with this.

Also if you look at the detail comparing Feb 11 with Feb 10 then income tax is down 200mill but NIC is up 300mill compensating and basically every other tax income, beer, fags, vat, fuel duties is up. Seems to indicate that there is still a lot of spending power in the economy for discretionary items.

Also Osbourne does not have an income problem he has a spending problem.



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