We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
MSE News: Economic growth slows to 0.2%
Comments
-
Yes, you make a good point, and I understand that Thatcher increased VAT from 8% to 17.5%, but one factor that was in play at the time was an 'oil glut' which forced the price of oil from a peak of $35 down to $10 in 1986. I wonder if she would have been able to increase VAT that much if the cost of oil and energy in 1986 had been as high as today?
Maggie Thatcher raised VAT to 15 %. John Major raised VAT to 17.5 %.PAD to date: £1166-22
Pay off as much as you can #127: £4,600 (£2,300 debt / £2,300 saved)in 2011.£660 / £4,600.(debt paid 28.7%; target 14.3%).
Sealed pot challenge 1292: £0 (target £600 by 31-12-11)0 -
polka_purpura wrote: »Maggie Thatcher raised VAT to 15 %....
....and it was done in 1979, not 1986 as implied by [edit] the other postLiving for tomorrow might mean that you survive the day after.
It is always different this time. The only thing that is the same is the outcome.
Portfolios are like personalities - one that is balanced is usually preferable.
0 -
polka_purpura wrote: »Maggie Thatcher raised VAT to 15 %. John Major raised VAT to 17.5 %.
Howe (Thatcher's Chancellor) unified the VAT rate. It had previously been at 7.5% for most items and 25% for 'luxuries' (mostly petrol and electrical goods). He set all VATable items at 15%.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.5K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.9K Spending & Discounts
- 244.5K Work, Benefits & Business
- 599.8K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards