VAT a taxing issue!

[pp05]

I wouldn't worry about it - he's not in a position to enact such a change, and I doubt he ever will be to be honest.

Exactly. In opposition you can promise whatever you like as the LibDems are finding out. Looking back at the last genenal election party manifesto's are nothing more than glossy toilet paper with writing on it.

The Labour party should consider going into a coma for 3 years and show up just before next election. This VAT thing even if brought in would only be temporary before moving it back up again. What they need is a vision first, then policy.

[chuckskull]

What Labour did do is sell so much gold it put a dent in the market and at a price 1/6th of its current level

That's not even the worst bit, they announced in advance when and how much. Monumentally stupid. So stupid in fact, it stinks of corruption to me. Seriously how bright do you need to be to figure out not to depress the price of the thing you're selling, before you sell it?

[BobF64]

Still, I suppose if we starve the really poor to death by pricing them out of buying food, at least we'll cut the welfare bill.

I hadnt thought of that benefit, good point, planet is over populated anyway, and (helpfully) it would help reduce global warming!

But more seriously, either those at the bottom end could be given "tax credits", or reverse VAT tax claims, to compensate or be given an embedded VAT free ID chip, like those things they put in cats and dogs.

Without income tax, all those tax inspectors will need something to do, after all, might as well have them process VAT refund claims from the poor.

[Hicks12]

keep to 20%, atleast its quicker to work out ... saves small businesses hassle and money and also stops giving the government reason to spend thousands of pounds arguing over bits of useless things like this!.