Monday, April 26, 2010

People get ready there’s a VAT raid a-coming

Schroders - Expect VAT to rise to 19 per cent

Schroders European economist Azad Zangana expects VAT to rise to 19 per cent after the general election. Zangana says that despite both Labour and the Conservatives having unveiled their manifestos recently, the most important factor for UK inflation is that neither has ruled out an increase in VAT from the current rate of 17.5 per cent. He says: “We believe that raising VAT from its current rate of 17.5 to 19 per cent would make not only make a significant contribution to the black-hole in the government’s budget forecast, but it would also be the most efficient way of collecting revenues quickly - as a result, we expect VAT to be raised to 19 per cent after the general election.”

Posted by jack c @ 06:10 PM (1827 views)
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7 thoughts on “People get ready there’s a VAT raid a-coming

  • Can’t they just round it off at 20%.

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  • vacuouspolitician says:

    Yes sadly this is the case – ordinary citizens paying the bill for government/business/banking mistakes.

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  • Oh and double whamy when that rise feeds into inflation figures… and thus interest rates.

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  • 19% initially, but I see it going to 20-21% eventually

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  • My God! 19% is way too much. In recession times goverments must cut taxesand not to put them up to allow businesses to develop and create jobs.

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  • tyrellcorporation says:

    Gordon set the country on fire with a fiscal maelstrom in a vain hope of buying himself a mandate. Were going to be forced to pay for gordons largesse for many years to come.

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  • Fine, I’ll spend less and drive slower, net result me better off, government worse off.

    La vengeance se mange très-bien froide, glubberment matey boys.

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