2009/2010 V.A.T. cuts from 17.5% to 15%
The report didn't go as well as he'd imagined.
This is an issue that I'm sure many people have become increasingly annoyed about since it's passing.
Many people are questioning why the government made the choice to cut VAT, instead of considering the many other options sitting at the table.
Everyone has their own opinion on this, but to me it seems almost absurd to cut the prices on products when we are heading into a recession, and have no money to purchase products in the first place. In my opinion, the government should have placed the money in our pockets so that we'd have something to spend, rather than flashing us cheaper price tags that we just cant afford.
When I say 'cheaper' price tags, these are by no means 'cheap' price tags. The reduction of 2.5% (17.5% - 15%) sounds great,