Sunday, 23 November 2008

Temporary measures

Its been leaked that VAT is going to be cut from 17.5% to the EU minimum of 15%. Somewhere along the line in some places profit margins have been increased by 2.5% which might be passed on to the consumer.

Uncle Iain can't seem to find a single commentary blog which thinks this is a positive thing.

Even uncle Dizzy reckons that in the best case scenario of a four person family, this amounts to around £1,000 a year, but just as a temporary measure. Which will have to be paid back at some point in the future when our finances are in a worse shape.

But I have this about 'temporary measures':

Income tax was also a temporary measure

So here's hoping.

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