Went to fill up on petrol yesterday aswe returned our hire car this morning and there was a surprisingly large queue. Of course everyone wanted to get in before the VAT rise.
I notice that retailers are hoping that it wont have too big an impact after the first half of this year, well taht’s a bit of a worry as it’s the first half of this year that we need to have strong growth for the recovery to stay on track…
As for whether it is the wrong tax. Well given the Conservatives still seem reluctant to tax banks any more it seems odd that they are focusing on VAT. What gets me is not that they are hitting the poorest hardest and letting the rich get away with it (although I obviously don’t agree with it) but that they keep saying they aren’t.
