Remember, with the taxes that remain you would have to spend £1150 to save that £25.
Soleron said:
Wait, so you're not lowering your prices to pass on the benefit to consumers? If that's typical, then the VAT cut will have no effect! |
Well, he mainly gets business from the MoD and specialist electronics (you know, rich guy stuff), so it doesn't make much difference, anyway.
Oh, and we can still have the Queen on all UK printed Euro notes. 
| highwaystar101 said: the vat cuts good for me because I'm poor. But it's a problem for my dad cos he fits into the 45% wage bracket so he is going to be paying a rediculous amount. But good for me so I'm ok lol |
It's too bad that sales tax cuts benefit people that make more money, not less. Seems to be a simple confusion that many goverments use to promote sales tax cuts to low income families.
Realistically how many items are really going to have 2.5% of vat deducted when the consumer goes to but them.
A mars bar, loaf of bread, video game, digital camera?
I can't see retailers adjusting prices on items less than a few hundred pounds, therefore it will be the retailers that benefit, not us.
| llewdebkram said: Realistically how many items are really going to have 2.5% of vat deducted when the consumer goes to but them. A mars bar, loaf of bread, video game, digital camera? I can't see retailers adjusting prices on items less than a few hundred pounds, therefore it will be the retailers that benefit, not us. |
The stores are all dieing for sales... the competition between the major chains could be enough to bring the price down fully.
| Soleron said: So, Gordon Brown plans to cut VAT (sales tax) from 17.5% to 15%, to "stimulate the economy". So, every £1000 you spend in shops, you ought to save £25. However, the cost of implementing this (to the government and businesses) will be almost as much as the cut. Also, the cost of resetting the rate back to 17.5% in a few years is going to be high too. So, that's eliminated the cut's usefulness. How will the government pay for the cut? By raising taxes far more, that's how! They will go back on their pledge to keep income taxes level and will make the top tax rate 45%. That should pay for it... ...so they're going to raise taxes more, for no reason. - National Insurance will go up by an amount that works out to 0.5% of everyone's total income. Everyone. From people with no income to the rich to pensioners. That's £1000 out of a £20000 income. - Oh, and duty on petrol, alcohol and tobacco will go up significantly too. That will negate the VAT rise to consumers too, since we can't avoid paying for petrol (and it's already more than double the price elsewhere) and alcohol consumption is likely to increase due to the recession. - Thought that would pay for it yet? No - the government is also going to borrow more money than any UK government ever has, even during WWII. This will be paid for by even more 'future tax rises'. -- Thanks, Gordon. The plan you've set out will take more money from every demographic and also businesses. Just what we need during an economic crisis. Your bad leadership created the situation, and now you aren't even managing it right. All the public will see is the *shiny* VAT cut, and you'll even get more votes for it for appearing to be in control of the situation. I just hope I'm 18 by the time you call a general election. |
I think the jeering Alistair Darling got when he announced even though VAT would be reduced, fuel will remian the same price was undeserved, he should have got pies or tomatoes thrown at him instead.
Never trust someone with eyebrows a different colour to their hair! 
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