Monday, November 10, 2008
Tax revenue on life support
The government has discovered that they might not get anything with vat at 17.5 so they are going to cut it. The article points out that this will stimulate foreign manufacturing not the UK as we import everything. However, they are to be applauded for admittedly being forced into "cut public spending and taxes" mode, although they aren't actually cutting any public spending and they intend to increase it. I am guessing that our noble leaders are looking at some pretty dire news which we don't have yet.