VAT = 20%!!!!!!
VAT = 20%!!!!!!
Trending Topics
22 June 2010, 01:39 PM
#10
Scooby Regular
Thread Starter
22 June 2010, 01:58 PM
#14
Scooby Regular
Join Date: May 2008
Posts: 3,957
Likes: 0
Received 0 Likes
on
0 Posts
VAT to 20% is no big deal at all, if Labour hadn't ****ed every thing up by putting it down to 15%, it most likely wouldn't have been put at that amount anyway.
I would of preferred it to be 22% for the next 3 years, then reducing it annually after that time till a sustainable figure was reached.
I would of preferred it to be 22% for the next 3 years, then reducing it annually after that time till a sustainable figure was reached.
22 June 2010, 01:58 PM
#15
Scooby Regular
Join Date: May 2008
Posts: 3,957
Likes: 0
Received 0 Likes
on
0 Posts
VAT to 20% is no big deal at all, if Labour hadn't ****ed every thing up by putting it down to 15%, it most likely wouldn't have been put at that amount anyway.
I would of preferred it to be 22% for the next 3 years, then reducing it annually after that time till a sustainable figure was reached.
I would of preferred it to be 22% for the next 3 years, then reducing it annually after that time till a sustainable figure was reached.
22 June 2010, 02:07 PM
#16
Scooby Regular
More would have been raised by making everything subject to VAT but keeping the rate the same.
Those of us running new businesses now need to decide if prices will go up or absorb the costs.
Those of us running new businesses now need to decide if prices will go up or absorb the costs.
22 June 2010, 02:11 PM
#17
Scooby Regular
Join Date: Dec 2002
Location: Sunny BELFAST
Posts: 19,408
Likes: 0
Received 0 Likes
on
0 Posts
the vat increase will have to be passed to to those at the bottom of the food chain i.e. you and me. the vat increase ripple effect will cause everything you buy to increase in price as retailers pass on their cost to you.
22 June 2010, 02:22 PM
#20
Scooby Regular
Join Date: Dec 2006
Location: S.E London
Posts: 13,654
Likes: 0
Received 0 Likes
on
0 Posts
Im happy with the budget as a whole.
And for the record, im sure Labour are into the whole 19.99% sugar coating thing, but I like things nice and practical.
And for the record, im sure Labour are into the whole 19.99% sugar coating thing, but I like things nice and practical.
22 June 2010, 02:23 PM
#21
Scooby Regular
Join Date: Dec 2006
Location: S.E London
Posts: 13,654
Likes: 0
Received 0 Likes
on
0 Posts
Personally I think people will hold out for the new reg, rather than save a few hundred quid.
22 June 2010, 02:25 PM
#22
Guest
Posts: n/a
Surprised by the increase to 20%? Not really.
Dave
22 June 2010, 02:44 PM
#25
Scooby Regular
iTrader: (3)
Join Date: Aug 2000
Location: 1600cc's of twin scroll fun :)
Posts: 25,565
Likes: 0
Received 2 Likes
on
2 Posts
I find it funny 
You dont need to raise duty on fuel, the 20% (or extra 2.5% will hit fuel anyway adding about 4-5p a litre), of course if you have no understanding why labour dropped the vat to 15% then you wont understand why raising this to 20% is a very bad idea, welcome to the new resession (same as in the 80's when the tories bumped up vat from 15% to 17.5% and put nearly 5 million people out of work
)
Vat is what you pay on all goods (with some exceptions like childrens clothing), I am not an expert here but the more you pay on an item the less you want it, which means you now hit the visious circle of a downward spiral.
Higher tax = less spending.
Less spending = less profit.
Less profit = less jobs (as you cannot afford to keep people on)
Less jobs = more unemployment
More unemployment = bigger strain on the benefits system etc.
Hence why labour dropped vat to increase spending and in doing so bring an end to resession due to jobs being made and an increase of money flowing through the economy.
Good old tories
Tony
You dont need to raise duty on fuel, the 20% (or extra 2.5% will hit fuel anyway adding about 4-5p a litre), of course if you have no understanding why labour dropped the vat to 15% then you wont understand why raising this to 20% is a very bad idea, welcome to the new resession (same as in the 80's when the tories bumped up vat from 15% to 17.5% and put nearly 5 million people out of work
)Vat is what you pay on all goods (with some exceptions like childrens clothing), I am not an expert here but the more you pay on an item the less you want it, which means you now hit the visious circle of a downward spiral.
Higher tax = less spending.
Less spending = less profit.
Less profit = less jobs (as you cannot afford to keep people on)
Less jobs = more unemployment
More unemployment = bigger strain on the benefits system etc.
Hence why labour dropped vat to increase spending and in doing so bring an end to resession due to jobs being made and an increase of money flowing through the economy.
Good old tories
Tony
22 June 2010, 02:52 PM
#27
Scooby Regular
iTrader: (3)
Join Date: Aug 2000
Location: 1600cc's of twin scroll fun :)
Posts: 25,565
Likes: 0
Received 2 Likes
on
2 Posts
VAT was designed for "Luxury" items only, so if you have kids, would you want to pay vat on their clothes? or food? (with the exception of takeaways which are subject to vat)
Tony
Tony
hence why they didnt need to increase duty of fuel/cigs or alcohol.
22 June 2010, 02:58 PM
#30
Scooby Regular
Join Date: Apr 2001
Posts: 2,227
Likes: 0
Received 0 Likes
on
0 Posts
I find it funny
You dont need to raise duty on fuel, the 20% (or extra 2.5% will hit fuel anyway adding about 4-5p a litre), of course if you have no understanding why labour dropped the vat to 15% then you wont understand why raising this to 20% is a very bad idea, welcome to the new resession (same as in the 80's when the tories bumped up vat from 15% to 17.5% and put nearly 5 million people out of work )
Vat is what you pay on all goods (with some exceptions like childrens clothing), I am not an expert here but the more you pay on an item the less you want it, which means you now hit the visious circle of a downward spiral.
Higher tax = less spending.
Less spending = less profit.
Less profit = less jobs (as you cannot afford to keep people on)
Less jobs = more unemployment
More unemployment = bigger strain on the benefits system etc.
Hence why labour dropped vat to increase spending and in doing so bring an end to resession due to jobs being made and an increase of money flowing through the economy.
Good old tories
Tony
You dont need to raise duty on fuel, the 20% (or extra 2.5% will hit fuel anyway adding about 4-5p a litre), of course if you have no understanding why labour dropped the vat to 15% then you wont understand why raising this to 20% is a very bad idea, welcome to the new resession (same as in the 80's when the tories bumped up vat from 15% to 17.5% and put nearly 5 million people out of work
)Vat is what you pay on all goods (with some exceptions like childrens clothing), I am not an expert here but the more you pay on an item the less you want it, which means you now hit the visious circle of a downward spiral.
Higher tax = less spending.
Less spending = less profit.
Less profit = less jobs (as you cannot afford to keep people on)
Less jobs = more unemployment
More unemployment = bigger strain on the benefits system etc.
Hence why labour dropped vat to increase spending and in doing so bring an end to resession due to jobs being made and an increase of money flowing through the economy.
Good old tories
Tony
There is a level of structural debt which has been created by Labour "investing" (i.e. pissing our money away) on bloating the public sector such that it cannot now ignored. If the company was a corporate, Brown/Darling would have been fired several years ago and the receivers called in. It is bust and needs a turnaround approach - which will hurt - asap.
Gordo