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Tories study plans for 20pc VAT

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Comments

  • vivatifosi
    vivatifosi Posts: 18,746 Forumite
    Part of the Furniture 10,000 Posts Mortgage-free Glee! PPI Party Pooper
    Agreed, but we're not talking about someone who normally writes in cyrilic script and therefore interpretation could be a moot point, we're talking about someone who writes for The Times under that particular spelling of their surname.
    Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
  • Masomnia
    Masomnia Posts: 19,506 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Just saying it's an easy mistake to make. I'm not taking sides, let's not argue :)
    “I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse
  • JasonLVC
    JasonLVC Posts: 16,762 Forumite
    Part of the Furniture Combo Breaker
    I'm in favour of it. A tax on consumption is exactly what we need. And anyway, it puts us in line with the rest of the EU and their VAT rates.

    The rates of VAT have being going up quietly across the whole of the EU in the last 6 months. Ireland kicked it all off with a .50% increase to 21.5% just before Christmas last year and the other member sstates have been adding 1% here or there during the economic crisis.

    The most recent being Croatia upto 23%!. France cut some restaurant meals to 5% but this only related to certain 'traditional' set meals and didn't wine or beers so has been more or less pointless.

    VAT is the fairest tax of them all - you buy something you pay tax. You don't buy it and you don't pay the tax.
    Anger ruins joy, it steals the goodness of my mind. Forces me to say terrible things. Overcoming anger brings peace of mind, a mind without regret. If I overcome anger, I will be delightful and loved by everyone.
  • bo_drinker
    bo_drinker Posts: 3,924 Forumite
    vivatifosi wrote: »
    I had two thoughts when I heard this.

    The second is this, will it lead to some almighty spend fest that in the weeks prior to its introduction?
    No I doubt it :confused: Nothing changed when it was reduced
    I came in to this world with nothing and I've still got most of it left. :rolleyes:
  • Bob_the_Saver
    Bob_the_Saver Posts: 5,610 Forumite
    VAT all around Europe is slowly or not so slowly gravitation towards a unified rate of 20%

    Discuss!
  • tomterm8
    tomterm8 Posts: 5,892 Forumite
    Part of the Furniture Combo Breaker
    VAT all around Europe is slowly or not so slowly gravitation towards a unified rate of 20%

    Discuss!

    see post 44.
    “The ideas of debtor and creditor as to what constitutes a good time never coincide.”
    ― P.G. Wodehouse, Love Among the Chickens
  • fc123
    fc123 Posts: 6,573 Forumite
    vivatifosi wrote: »
    I had two thoughts when I heard this.

    The first is what will it do to inflation? Will it push inflation up, or will there be pressure on retailers and producers alike, whose margins are already lower, to absorb any increases.

    The second is this, will it lead to some almighty spend fest that in the weeks prior to its introduction?

    I have a feeling that retailers (in every sector but excl the cash in hand types on Ebay or Real Life temporary lets, markets etc.) will try to add on but find they then have to discount to make more sales as the customer will resist.
    This will then lead more retailers going to LL to re-negotiate rents a bit more downwards. The fall in comm property over the past 2 years is a drop in the ocean to what they are going to have to face next. I give it 5 years and things will have totally changed.

    The spend fest may be mixed up with the pre Xmas spend fest that occurs anyway during December....will be difficult to tell.
  • bluey890
    bluey890 Posts: 1,020 Forumite
    edited 9 August 2009 at 7:46PM
    JasonLVC wrote: »
    VAT is the fairest tax of them all - you buy something you pay tax. You don't buy it and you don't pay the tax.

    I know of many motorists who would disagree. :)
    Favourite hobbies: Watersports. Relaxing in Coffee Shop. Investing in stocks.
    Personality type: Compassionate Male Armadillo. Sockies: None.
  • bluey890 wrote: »
    I know of many motorists who would disagree. :)

    Why? You don't have to drive in the same way that you have to eat. Its a choice.
  • mbga9pgf
    mbga9pgf Posts: 3,224 Forumite
    Why? You don't have to drive in the same way that you have to eat. Its a choice.

    Tell that to someone that works in a Rural area.
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