There’s a good feature on Left Foot Forward on VAT — and the political cynicism behind Osborne’s move to make the increase permanent — which will just (again) make the tax system in the Uk yet more regressive and oppressive.
This is their graph on VAT rates since 1973:
It’s only ever gone up under the Tories.
Odd that, isn’t it?
And now the rate is the same is income tax.
No wonder the poor feel worse off.
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Strange that the combination seems to track a general rate of 40%, inclusion of top tax rates and NI contributions would give an even livelier picture.
The NI ceiling is an open door IMO
“It’s only ever gone up under the Tories.”
Labour increased it from 15% to 17.5% on 1 Janaury 2010.
@Charlie Lowe
Hang on ,,,, they gave a temporary cut
@Richard Murphy
Correct, so they did increase it then…
@Charlie Lowe
Pedant