The Chancellor appears to have completely abandoned the normal purdah before budgetary announcements with the result that the VAT cut was the least unexpected announcement almost ever. But, if the purpose of the VAT cut was to put more money into the pockets of less well-off people, would not a targeted cut in income tax have done it better? If the purpose is to stimulate spending in our high streets, how is a 2.5 per cent. VAT cut going to work when 20 per cent. to 25 per cent. discounting in all major stores is not?
Pre-Budget Report
Proceeding contribution from
David Heath
(Liberal Democrat)
in the House of Commons on Monday, 24 November 2008.
It occurred during Ministerial statement on Pre-Budget Report.
Type
Proceeding contribution
Reference
483 c519 
Session
2007-08
Chamber / Committee
House of Commons chamber
Subjects
Librarians' tools
Timestamp
2023-12-15 23:20:31 +0000
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