The impact of the VAT change

According to the Chartered Institute of Tax the impact of the VAT change on a household with earnings of £20,000 a year is £2.50 a week.

Sorry: but that's ludicrous. It's not enough to deliver change.

And that assumes the VAT saving is passed on, and it won't be.

I suspect this is a horribly regressive reform: the benefit will pass to the shareholders of retailers in increased profits.

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