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.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
