RUTH SUNDERLAND: Time For A VAT Cut Chancellor - Versionsgeschichte

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Advice can be hard to give and [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour thác bản giốc] even harder to receive, particularly if it comes from someone who used to do your job. But Rishi Sunak should pay heed to two of his predecessors - from opposite sides of the political divide - when they urge him to cut VAT. Mr Sunak is understood to have cooled on the idea of reducing the levy, and to want to wait and see how consumers respond to the gradual lifting of lockdown. Problem is, there may not be time to do that: the downfall of shopping centre owner Intu is evidence enough of how rapidly retailers are running out of road and the situation is at least as dire in hospitality. Magic touch?: Chancellor Rishi Sunak needs a proper rabbit to pull out of the hat in his quasi-Budget Two former Chancellors, Sajid Javid and Alistair Darling, have come out for a cut. There is bound to be resistance within the Treasury. Tax revenues have been hard hit in the pandemic and VAT is a very nice little earner, channelling more than £130billion into the national coffers the last tax year. The sums raised, at least pre-Covid, have risen strongly from £59millon 20 years ago. We might not like paying VAT, but the Government, so the argument goes, has got to raise money from somewhere. Mr Sunak may doubt a cut is necessary to encourage spending, when the lucky ones among us who still have paypackets have been turned into enforced savers and therefore have plenty of money to splurge. Perfectly true, but given the uncertainty about the economy, many will opt to pay down debts or ramp up savings instead. In that context, a VAT cut would be a bold move and send a powerful signal from the Government that it wants people to shop for Britain. Another objection is that a blanket reduction would benefit online retailers, but it could be targeted at specific sectors. RELATED ARTICLES [# Previous] [# 1] [# Next] [/money/comment/article-8464401/ALEX-BRUMMER-jobs-catastrophe-averted.html ALEX BRUMMER: Chancellor Rishi Sunak will have to make the...] [/money/news/article-8453149/Small-firms-struggling-land-Bounce-loan-cash.html Small firms still struggling to land Bounce Back loan cash...] [/money/cars/article-8439837/Lockdown-costs-Treasury-2-5bn-lost-fuel-duty.html First three months of coronavirus lockdown cost the Treasury...] [/money/news/article-8428477/UK-taxpayers-face-38bn-Covid-loans-TIME-BOMB.html Britain's £38bn Covid loans timebomb: Government's rescue...] Share this article Share Setting aside the desperate need to get customers back into the shops, pubs and restaurants post-Covid, VAT at 20 per cent is too high anyway. It is a 'regressive' tax, in that it hits the less well-off hardest. The ability to control our own VAT rate is one of the potential benefits of Brexit. Readers of a certain vintage will recall that it was brought in to replace the old purchase tax when Britain joined the EU in 1973. Under a 2006 directive, member states have to set a standard VAT rate of at least 15 per cent, but out of the EU those strictures no longer apply. Other countries are already cutting, including Norway and Germany. When Alistair Darling cut VAT to 15 per cent in 2008, to stimulate the economy after the financial crisis, it was judged to have been a success. The cost then was around £12.5billion, and it would be more now. An overall reduction to 17 per cent now would cost £21billion, which is a lot of money - but as a one-off temporary hit it would give the Chancellor a lot of bang for his buck. Mr Sunak has launched a barrage of initiatives, so many, in fact, that many people have already forgotten about a lot of them. We all know about furlough and bounce-back loans but other measures, including relief on business rates and cash grants of up to £25,000 for some firms, are being overlooked along with great ideas such as £150m from dormant savings accounts to help charities, or the £500m fund for high-growth enterprises. The Chancellor can always follow the example of another predecessor, Gordon Brown, who thought if something was worth announcing once, it was worth announcing multiple times. But he could still do with a proper rabbit to pull out of his hat in his quasi-Budget next month. A cut in VAT would have popular appeal and send a strong message of support to troubled parts of the economy. In short, just the ticket. #fiveDealsWidget .dealItemTitle#mobile display:none #fiveDealsWidget display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px #fiveDealsWidget div, #fiveDealsWidget a margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif #fiveDealsWidget .widgetTitleBox display:block; float:left; width:100%; background-color:#af1e1e; #fiveDealsWidget .[http://www.medcheck-up.com/?s=widgetTitle widgetTitle] color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; #fiveDealsWidget a.dealItem float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px; #fiveDealsWidget a.dealItem#last margin-right:0 #fiveDealsWidget .dealItemTitle display:block; margin:10px 5px; color:#000; font-weight:bold #fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img float:left; display:block; margin:0; padding:0 #fiveDealsWidget .dealItemImage border:1px solid #ccc #fiveDealsWidget .dealItemImage img width:100%; height:auto #fiveDealsWidget .dealItemdesc float:left; display:block; color:#004db3; font-weight:bold; margin:5px; #fiveDealsWidget .dealItemRate float:left; display:block; color:#000; margin:5px #fiveDealsWidget .footerText a:hovertext-decoration: underline; #fiveDealsWidget .footerSmallfont-size:10px; padding-top:10px; @media (max-width: 635px) #fiveDealsWidget a.dealItem width:19%; margin-right:1% #fiveDealsWidget a.dealItem#last width:20% @media (max-width: 560px) #fiveDealsWidget #desktop display:none; #fiveDealsWidget #mobile display:block!important #fiveDealsWidget a.dealItem background-color: #fff; height:auto; min-height:auto #fiveDealsWidget a.dealItem border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px #fiveDealsWidget a.dealItem#last border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px #fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last width:100% #fiveDealsWidget .dealItemContent, [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html kynghidongduong.vn] #fiveDealsWidget .dealItemImage float:left; display:inline-block #fiveDealsWidget .dealItemImage width:35%; margin-right:1% #fiveDealsWidget .dealItemContent width:63% #fiveDealsWidget .dealItemTitle margin: [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour thác bản giốc] 0px 5px 5px; font-size:16px #fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate clear:both TOP DIY INVESTING PLATFORMS [ Low cost portfolios Low cost portfolios Cheap funds fee £1.50 fund dealing] [ Investment ideas Free fund dealing First deal free Annual 0.45 per cent account charge] [ Free investing No fees Free investing Regular investing with no fees] [ Flat fees Great service Fixed monthly cost Dealing from £7.50] [ Model portfolios Model portfolios Free fund dealing Tools and fund ideas] [ > Compare the best investing platform for you]

← Nächstältere Version		Version vom 21. Juli 2020, 22:41 Uhr
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−	Advice can be hard to give and even harder to receive, particularly if it comes from someone who used to do your job. <br>But Rishi Sunak should pay heed to two of his predecessors - from opposite sides of the political divide - when they urge him to cut VAT.<br><br>Mr Sunak is understood to have cooled on the idea of reducing the levy, and to want to wait and see how consumers respond to the gradual lifting of lockdown. <br>Problem is, there may not be time to do that: the downfall of shopping centre owner Intu is ~~[http://topofblogs.com/tag/evidence~~ evidence] enough of how rapidly retailers are running out of road and the situation is at least as dire in hospitality. <br> Magic touch?: Chancellor Rishi Sunak needs a proper rabbit to pull out of the hat in his quasi-Budget<br>Two former Chancellors, Sajid Javid and Alistair Darling, have come out for a cut.<br><br>There is bound to be resistance within the Treasury. Tax revenues have been hard hit in the pandemic and VAT is a very nice little earner, channelling more than £130billion into the national coffers the last tax year. <br>The sums raised, ~~[https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour hồ ba bể]~~ at least pre-Covid, have risen strongly from £59millon 20 years ago. We might not like paying VAT, but the Government, so the argument goes, has got to raise money from somewhere. <br>Mr Sunak may doubt a cut is necessary to encourage spending, when the lucky ones among us who still have paypackets have been turned into enforced savers and therefore have plenty of money to splurge. <br>Perfectly true, but given the uncertainty about the economy, ~~[https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html kynghidongduong.vn]~~ many will opt to pay down debts or ramp up savings instead. <br>In that context, a VAT cut would be a bold move and send a powerful signal from the Government that it wants people to shop for Britain. Another objection is that a blanket reduction would benefit online retailers, but it could be targeted at specific sectors. <br> RELATED ARTICLES [# Previous] [# 1] [# Next] [/money/comment/article-8464401/ALEX-BRUMMER-jobs-catastrophe-averted.html ALEX BRUMMER: Chancellor Rishi Sunak will have to make the...] [/money/news/article-8453149/Small-firms-struggling-land-Bounce-loan-cash.html Small firms still struggling to land Bounce Back loan cash...] [/money/cars/article-8439837/Lockdown-costs-Treasury-2-5bn-lost-fuel-duty.html First three months of coronavirus lockdown cost the Treasury...] [/money/news/article-8428477/UK-taxpayers-face-38bn-Covid-loans-TIME-BOMB.html Britain's £38bn Covid loans timebomb: Government's rescue...] Share this article Share Setting aside the desperate need to get customers back into the shops, pubs and restaurants post-Covid, VAT at 20 per cent is too high anyway.<br><br>It is a 'regressive' tax, in that it hits the less well-off hardest.<br>The ability to control our own VAT rate is one of the potential benefits of Brexit. ~~[http://de.bab.la/woerterbuch/englisch-deutsch/Readers~~ Readers] of a certain vintage will recall that it was brought in to replace the old purchase tax when Britain joined the EU in 1973. <br>Under a 2006 directive, member states have to set a standard VAT rate of at least 15 per cent, but out of the EU those strictures no longer apply.<br><br>Other countries are already cutting, including Norway and Germany. <br>When Alistair Darling cut VAT to 15 per cent in 2008, to stimulate the economy after the financial crisis, it was judged to have been a success.<br>The cost then was around £12.5billion, and it would be more now. An overall reduction to 17 per cent now would cost £21billion, which is a lot of money - but as a one-off temporary hit it would give the Chancellor a lot of bang for his buck. <br>Mr Sunak has launched a barrage of initiatives, so many, in fact, that many people have already forgotten about a lot of them. <br>We all know about furlough and bounce-back loans but other measures, including relief on business rates and cash grants of up to £25,000 for some firms, are being overlooked along with great ideas such as £150m from dormant savings accounts to help charities, or the £500m fund for high-growth enterprises. <br>The Chancellor can always follow the example of another predecessor, Gordon Brown, who thought if something was worth announcing once, it was worth announcing multiple times.<br><br>But he could still do with a proper rabbit to pull out of his hat in his quasi-Budget next month. <br>A cut in VAT would have popular appeal and send a strong message of support to troubled parts of the economy.<br>In short, just the ticket.<br> <br><br>#fiveDealsWidget .dealItemTitle#mobile display:none<br>#fiveDealsWidget display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px<br>#fiveDealsWidget div, #fiveDealsWidget a margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, ~~[https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour hồ ba bể]~~ Helvetica ,sans-serif<br><br>#fiveDealsWidget .widgetTitleBox display:block; float:left; width:100%; background-color:#af1e1e;<br>#fiveDealsWidget .widgetTitle color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; <br>#fiveDealsWidget a.dealItem float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;<br><br>#fiveDealsWidget a.dealItem#last margin-right:0<br>#fiveDealsWidget .dealItemTitle display:block; margin:10px 5px; color:#000; font-weight:bold<br>#fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img float:left; display:block; margin:0; padding:0<br>#fiveDealsWidget .dealItemImage border:1px solid #ccc<br><br>#fiveDealsWidget .dealItemImage img width:100%; height:auto<br>#fiveDealsWidget .dealItemdesc float:left; display:block; color:#004db3; font-weight:bold; margin:5px;<br>#fiveDealsWidget .dealItemRate float:left; display:block; color:#000; margin:5px<br>#fiveDealsWidget .footerText a:hovertext-decoration: underline;<br><br>#fiveDealsWidget .footerSmallfont-size:10px; padding-top:10px;<br>@media (max-width: 635px) <br>#fiveDealsWidget a.dealItem width:19%; margin-right:1%<br>#fiveDealsWidget a.dealItem#last width:20%<br><br>@media (max-width: 560px)<br>#fiveDealsWidget #desktop display:none;<br>#fiveDealsWidget #mobile display:block!important<br><br>#fiveDealsWidget a.dealItem background-color: #fff; height:auto; min-height:auto<br>#fiveDealsWidget a.dealItem border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px<br>#fiveDealsWidget a.dealItem#last border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px<br>#fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last width:100%<br><br>#fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage float:left; display:inline-block<br>#fiveDealsWidget .dealItemImage width:35%; margin-right:1%<br>#fiveDealsWidget .dealItemContent width:63%<br>#fiveDealsWidget .dealItemTitle margin: 0px 5px 5px; font-size:16px<br>#fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate clear:both<br><br>TOP DIY INVESTING PLATFORMS [ Low cost portfolios Low cost portfolios Cheap funds fee £1.50 fund dealing] [ Investment ideas Free fund dealing First deal free Annual 0.45 per cent account charge] [ Free investing No fees Free investing Regular investing with no fees] [ Flat fees Great service Fixed monthly cost Dealing from £7.50] [ Model portfolios Model portfolios Free fund dealing Tools and fund ideas] [ > Compare the best investing platform for you]	+	Advice can be hard to give and even harder to receive, particularly if it comes from someone who used to do your job. <br>But Rishi Sunak should pay heed to two of his predecessors - from opposite sides of the political divide - when they urge him to cut VAT.<br><br>Mr Sunak is understood to have cooled on the idea of reducing the levy, and to want to wait and see how consumers respond to the gradual lifting of lockdown. <br>Problem is, there may not be time to do that: the downfall of shopping centre owner Intu is evidence enough of how rapidly retailers are running out of road and the situation is at least as dire in hospitality. <br> Magic touch?: Chancellor Rishi Sunak needs a proper rabbit to pull out of the hat in his quasi-Budget<br>Two former Chancellors, [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour thác bản giốc] Sajid Javid and Alistair Darling, have come out for a cut.<br><br>There is bound to be resistance within the Treasury. Tax revenues have been hard hit in the pandemic and VAT is a very nice little earner, channelling more than £130billion into the national coffers the last tax year. <br>The sums raised, at least pre-Covid, have risen strongly from £59millon 20 years ago. We might not like paying VAT, but the Government, so the argument goes, has got to raise money from somewhere. <br>Mr Sunak may doubt a cut is necessary to encourage spending, when the lucky ones among us who still have paypackets have been turned into enforced savers and therefore have plenty of money to splurge. <br>Perfectly true, but given the uncertainty about the economy, many will opt to pay down debts or ramp up savings instead. <br>In that context, a VAT cut would be a bold move and send a powerful signal from the Government that it wants people to shop for Britain. Another objection is that a blanket reduction would benefit online retailers, but it could be targeted at specific sectors. <br> RELATED ARTICLES [# Previous] [# 1] [# Next] [/money/comment/article-8464401/ALEX-BRUMMER-jobs-catastrophe-averted.html ALEX BRUMMER: Chancellor Rishi Sunak will have to make the...] [/money/news/article-8453149/Small-firms-struggling-land-Bounce-loan-cash.html Small firms still struggling to land Bounce Back loan cash...] [/money/cars/article-8439837/Lockdown-costs-Treasury-2-5bn-lost-fuel-duty.html First three months of coronavirus lockdown cost the Treasury...] [/money/news/article-8428477/UK-taxpayers-face-38bn-Covid-loans-TIME-BOMB.html Britain's £38bn Covid loans timebomb: Government's rescue...] Share this article Share Setting aside the desperate need to get customers back into the shops, pubs and restaurants post-Covid, VAT at 20 per cent is too high anyway.<br><br>It is a [http://www.search.com/search?q=%27regressive%27 'regressive'] tax, in that it hits the less well-off hardest.<br>The ability to control our own VAT rate is one of the potential benefits of Brexit. Readers of a certain vintage will recall that it was brought in to replace the old purchase tax when Britain joined the EU in 1973. <br>Under a 2006 directive, member states have to set a standard VAT rate of at least 15 per cent, but out of the EU those strictures no longer apply.<br><br>Other countries are already cutting, including Norway and Germany. <br>When Alistair Darling cut VAT to 15 per cent in 2008, to stimulate the economy after the financial crisis, it was judged to have been a success.<br>The cost then was around £12.5billion, and it would be more now. An overall reduction to 17 per cent now would cost £21billion, which is a lot of money - but as a one-off temporary hit it would give the Chancellor a lot of bang for his buck. <br>Mr Sunak has launched a barrage of initiatives, so many, in fact, that many people have already forgotten about a lot of them. <br>We all know about furlough and [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html kynghidongduong.vn] bounce-back loans but other measures, including relief on business rates and cash grants of up to £25,000 for some firms, are being overlooked along with great ideas such as £150m from dormant savings accounts to help charities, or the £500m fund for high-growth enterprises. <br>The Chancellor can always follow the example of another predecessor, Gordon Brown, who thought if something was worth announcing once, it was worth announcing multiple times.<br><br>But he could still do with a proper rabbit to pull out of his hat in his quasi-Budget next month. <br>A cut in VAT would have popular appeal and send a strong message of support to troubled parts of the economy.<br>In short, just the ticket.<br> <br><br>#fiveDealsWidget .dealItemTitle#mobile display:none<br>#fiveDealsWidget display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px<br>#fiveDealsWidget div, #fiveDealsWidget a margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif<br><br>#fiveDealsWidget .widgetTitleBox display:block; float:left; width:100%; background-color:#af1e1e;<br>#fiveDealsWidget .widgetTitle color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; <br>#fiveDealsWidget a.dealItem float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;<br><br>#fiveDealsWidget a.dealItem#last margin-right:0<br>#fiveDealsWidget .dealItemTitle display:block; margin:10px 5px; color:#000; font-weight:bold<br>#fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img float:left; display:block; margin:0; padding:0<br>#fiveDealsWidget .dealItemImage border:1px solid #ccc<br><br>#fiveDealsWidget .dealItemImage img width:100%; height:auto<br>#fiveDealsWidget .dealItemdesc float:left; display:block; color:#004db3; font-weight:bold; margin:5px;<br>#fiveDealsWidget .dealItemRate float:left; display:block; color:#000; margin:5px<br>#fiveDealsWidget .footerText a:hovertext-decoration: underline;<br><br>#fiveDealsWidget .footerSmallfont-size:10px; padding-top:10px;<br>@media (max-width: 635px) <br>#fiveDealsWidget a.dealItem width:19%; margin-right:1%<br>#fiveDealsWidget a.dealItem#last width:20%<br><br>@media (max-width: 560px)<br>#fiveDealsWidget #desktop display:none;<br>#fiveDealsWidget #mobile display:block!important<br><br>#fiveDealsWidget a.dealItem background-color: #fff; height:auto; min-height:auto<br>#fiveDealsWidget a.dealItem border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px<br>#fiveDealsWidget a.dealItem#last border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px<br>#fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last width:100%<br><br>#fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage float:left; display:inline-block<br>#fiveDealsWidget .dealItemImage width:35%; margin-right:1%<br>#fiveDealsWidget .dealItemContent width:63%<br>#fiveDealsWidget .dealItemTitle margin: 0px 5px 5px; font-size:16px<br>#fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate clear:both<br><br>TOP DIY INVESTING PLATFORMS [ Low cost portfolios Low cost portfolios Cheap funds fee £1.50 fund dealing] [ Investment ideas Free fund dealing First deal free Annual 0.45 per cent account charge] [ Free investing No fees Free investing Regular investing with no fees] [ Flat fees Great service Fixed monthly cost Dealing from £7.50] [ Model portfolios Model portfolios Free fund dealing Tools and fund ideas] [ > Compare the best investing platform for you]

← Nächstältere Version		Version vom 21. Juli 2020, 11:34 Uhr
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−	Advice can be hard to give and even harder to receive, particularly if it comes from someone who used to do your job. <br>But Rishi Sunak should pay heed to two of his predecessors - from opposite sides of the political divide - when they urge him to cut VAT.<br><br>Mr Sunak is understood to have cooled on the idea of reducing the levy, and to want to wait and see how consumers respond to the gradual lifting of lockdown. <br>Problem is, there may not be time to do that: the downfall of shopping centre owner Intu is evidence enough of how rapidly retailers are running out of road and ~~[https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html kynghidongduong.vn]~~ the situation is at least as dire in hospitality. <br> Magic touch?: Chancellor Rishi Sunak needs a proper rabbit to pull out of the hat in his quasi-Budget<br>Two former Chancellors, Sajid Javid and Alistair Darling, have come out for a cut.<br><br>There is bound to be resistance within the Treasury. Tax revenues have been hard hit in the pandemic and VAT is a very nice little earner, channelling more than £130billion into the national coffers the last tax year. <br>The sums raised, at least pre-Covid, have risen strongly from £59millon 20 years ago. We might not like paying VAT, but the Government, so the argument goes, has got to raise money from somewhere. <br>Mr Sunak may doubt a cut is necessary to encourage spending, when the lucky ones among us who still have paypackets have been turned into enforced savers and therefore have plenty of money to splurge. <br>Perfectly true, but given the uncertainty about the economy, many will opt to pay down debts or ramp up savings instead. <br>In that context, a VAT cut would be a bold move and send a powerful signal from the Government that it wants people to shop for Britain. Another objection is that a blanket reduction would benefit online retailers, but it could be targeted at specific sectors. <br> RELATED ARTICLES [# Previous] [# 1] [# Next] [/money/comment/article-8464401/ALEX-BRUMMER-jobs-catastrophe-averted.html ALEX BRUMMER: Chancellor Rishi Sunak will have to make the...] [/money/news/article-8453149/Small-firms-struggling-land-Bounce-loan-cash.html Small firms still struggling to land Bounce Back loan cash...] [/money/cars/article-8439837/Lockdown-costs-Treasury-2-5bn-lost-fuel-duty.html First three months of coronavirus lockdown cost the Treasury...] [/money/news/article-8428477/UK-taxpayers-face-38bn-Covid-loans-TIME-BOMB.html Britain's £38bn Covid loans timebomb: Government's rescue...] Share this article Share Setting aside the desperate need to get customers back into the shops, pubs and restaurants post-Covid, VAT at 20 per cent is too high anyway.<br><br>It is a 'regressive' tax, in that it hits the less well-off hardest.<br>The ability to control our own VAT rate is one of the potential benefits of Brexit. Readers of a certain vintage will recall that it was brought in to replace the old purchase tax when Britain joined the EU in 1973. <br>Under a 2006 directive, member states have to set a standard VAT rate of at least 15 per cent, but out of the EU those strictures no longer apply.<br><br>Other countries are already cutting, including Norway and Germany. <br>When Alistair Darling cut VAT to 15 per cent in 2008, to stimulate the economy after the financial crisis, it was judged to have been a success.<br>The cost then was around £12.5billion, and it would be more now. An overall reduction to 17 per cent now would cost £21billion, which is a lot of money - but as a one-off temporary hit it would give the Chancellor a lot of bang for his buck. <br>Mr Sunak has launched a barrage of initiatives, so many, in fact, that many people have already forgotten about a lot of them. <br>We all know about furlough and bounce-back loans but other measures, including relief on business rates and cash grants of up to £25,000 for some firms, are being overlooked along with great ideas such as £150m from dormant savings accounts to help charities, or the £500m fund for high-growth enterprises. <br>The Chancellor can always follow the example of another predecessor, Gordon Brown, who thought if something was worth announcing once, it was worth announcing multiple times.<br><br>But he could still do with a proper rabbit to pull out of his hat in his quasi-Budget next month. <br>A cut in VAT would have popular appeal and send a strong message of support to troubled parts of the economy.<br>In short, just the ticket.<br> <br><br>#fiveDealsWidget .dealItemTitle#mobile display:none<br>#fiveDealsWidget display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px<br>#fiveDealsWidget div, #fiveDealsWidget a margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif<br><br>#fiveDealsWidget .[http://www.cafemom.com/search/index.php?keyword=widgetTitleBox widgetTitleBox] display:block; float:left; width:100%; background-color:#af1e1e;<br>#fiveDealsWidget .widgetTitle color:#fff; text-transform: [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour ~~thác bản giốc~~] uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; <br>#fiveDealsWidget a.dealItem float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;<br><br>#fiveDealsWidget a.dealItem#last margin-right:0<br>#fiveDealsWidget .dealItemTitle display:block; margin:10px 5px; color:#000; font-weight:bold<br>#fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img float:left; display:block; margin:0; padding:0<br>#fiveDealsWidget .dealItemImage border:1px solid #ccc<br><br>#fiveDealsWidget .dealItemImage img width:100%; height:auto<br>#fiveDealsWidget .dealItemdesc float:left; display:block; color:#004db3; font-weight:bold; margin:5px;<br>#fiveDealsWidget .dealItemRate float:left; display:block; color:#000; margin:5px<br>#fiveDealsWidget .footerText a:hovertext-decoration: underline;<br><br>#fiveDealsWidget .footerSmallfont-size:10px; padding-top:10px;<br>@media (max-width: 635px) <br>#fiveDealsWidget a.dealItem width:19%; margin-right:1%<br>#fiveDealsWidget a.dealItem#last width:20%<br><br>@media (max-width: 560px)<br>#fiveDealsWidget #desktop display:none;<br>#fiveDealsWidget #mobile display:block!important<br><br>#fiveDealsWidget a.dealItem background-color: #fff; height:auto; min-height:auto<br>#fiveDealsWidget a.dealItem border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px<br>#fiveDealsWidget a.dealItem#last border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px<br>#fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last width:100%<br><br>#fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage float:left; display:inline-block<br>#fiveDealsWidget .dealItemImage width:35%; margin-right:1%<br>#fiveDealsWidget .dealItemContent width:63%<br>#fiveDealsWidget .dealItemTitle margin: 0px 5px 5px; font-size:16px<br>#fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate clear:both<br><br>TOP DIY INVESTING PLATFORMS [ Low cost portfolios Low cost portfolios Cheap funds fee £1.50 fund dealing] [ Investment ideas Free fund dealing First deal free Annual 0.45 per cent account charge] [ Free investing No fees Free investing Regular investing with no fees] [ Flat fees Great service Fixed monthly cost Dealing from £7.50] [ Model portfolios Model portfolios Free fund dealing Tools and fund ideas] [ > Compare the best investing platform for you]	+	Advice can be hard to give and even harder to receive, particularly if it comes from someone who used to do your job. <br>But Rishi Sunak should pay heed to two of his predecessors - from opposite sides of the political divide - when they urge him to cut VAT.<br><br>Mr Sunak is understood to have cooled on the idea of reducing the levy, and to want to wait and see how consumers respond to the gradual lifting of lockdown. <br>Problem is, there may not be time to do that: the downfall of shopping centre owner Intu is [http://topofblogs.com/tag/evidence evidence] enough of how rapidly retailers are running out of road and the situation is at least as dire in hospitality. <br> Magic touch?: Chancellor Rishi Sunak needs a proper rabbit to pull out of the hat in his quasi-Budget<br>Two former Chancellors, Sajid Javid and Alistair Darling, have come out for a cut.<br><br>There is bound to be resistance within the Treasury. Tax revenues have been hard hit in the pandemic and VAT is a very nice little earner, channelling more than £130billion into the national coffers the last tax year. <br>The sums raised, [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour hồ ba bể] at least pre-Covid, have risen strongly from £59millon 20 years ago. We might not like paying VAT, but the Government, so the argument goes, has got to raise money from somewhere. <br>Mr Sunak may doubt a cut is necessary to encourage spending, when the lucky ones among us who still have paypackets have been turned into enforced savers and therefore have plenty of money to splurge. <br>Perfectly true, but given the uncertainty about the economy, [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html kynghidongduong.vn] many will opt to pay down debts or ramp up savings instead. <br>In that context, a VAT cut would be a bold move and send a powerful signal from the Government that it wants people to shop for Britain. Another objection is that a blanket reduction would benefit online retailers, but it could be targeted at specific sectors. <br> RELATED ARTICLES [# Previous] [# 1] [# Next] [/money/comment/article-8464401/ALEX-BRUMMER-jobs-catastrophe-averted.html ALEX BRUMMER: Chancellor Rishi Sunak will have to make the...] [/money/news/article-8453149/Small-firms-struggling-land-Bounce-loan-cash.html Small firms still struggling to land Bounce Back loan cash...] [/money/cars/article-8439837/Lockdown-costs-Treasury-2-5bn-lost-fuel-duty.html First three months of coronavirus lockdown cost the Treasury...] [/money/news/article-8428477/UK-taxpayers-face-38bn-Covid-loans-TIME-BOMB.html Britain's £38bn Covid loans timebomb: Government's rescue...] Share this article Share Setting aside the desperate need to get customers back into the shops, pubs and restaurants post-Covid, VAT at 20 per cent is too high anyway.<br><br>It is a 'regressive' tax, in that it hits the less well-off hardest.<br>The ability to control our own VAT rate is one of the potential benefits of Brexit. [http://de.bab.la/woerterbuch/englisch-deutsch/Readers Readers] of a certain vintage will recall that it was brought in to replace the old purchase tax when Britain joined the EU in 1973. <br>Under a 2006 directive, member states have to set a standard VAT rate of at least 15 per cent, but out of the EU those strictures no longer apply.<br><br>Other countries are already cutting, including Norway and Germany. <br>When Alistair Darling cut VAT to 15 per cent in 2008, to stimulate the economy after the financial crisis, it was judged to have been a success.<br>The cost then was around £12.5billion, and it would be more now. An overall reduction to 17 per cent now would cost £21billion, which is a lot of money - but as a one-off temporary hit it would give the Chancellor a lot of bang for his buck. <br>Mr Sunak has launched a barrage of initiatives, so many, in fact, that many people have already forgotten about a lot of them. <br>We all know about furlough and bounce-back loans but other measures, including relief on business rates and cash grants of up to £25,000 for some firms, are being overlooked along with great ideas such as £150m from dormant savings accounts to help charities, or the £500m fund for high-growth enterprises. <br>The Chancellor can always follow the example of another predecessor, Gordon Brown, who thought if something was worth announcing once, it was worth announcing multiple times.<br><br>But he could still do with a proper rabbit to pull out of his hat in his quasi-Budget next month. <br>A cut in VAT would have popular appeal and send a strong message of support to troubled parts of the economy.<br>In short, just the ticket.<br> <br><br>#fiveDealsWidget .dealItemTitle#mobile display:none<br>#fiveDealsWidget display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px<br>#fiveDealsWidget div, #fiveDealsWidget a margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour hồ ba bể] Helvetica ,sans-serif<br><br>#fiveDealsWidget .widgetTitleBox display:block; float:left; width:100%; background-color:#af1e1e;<br>#fiveDealsWidget .widgetTitle color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; <br>#fiveDealsWidget a.dealItem float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;<br><br>#fiveDealsWidget a.dealItem#last margin-right:0<br>#fiveDealsWidget .dealItemTitle display:block; margin:10px 5px; color:#000; font-weight:bold<br>#fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img float:left; display:block; margin:0; padding:0<br>#fiveDealsWidget .dealItemImage border:1px solid #ccc<br><br>#fiveDealsWidget .dealItemImage img width:100%; height:auto<br>#fiveDealsWidget .dealItemdesc float:left; display:block; color:#004db3; font-weight:bold; margin:5px;<br>#fiveDealsWidget .dealItemRate float:left; display:block; color:#000; margin:5px<br>#fiveDealsWidget .footerText a:hovertext-decoration: underline;<br><br>#fiveDealsWidget .footerSmallfont-size:10px; padding-top:10px;<br>@media (max-width: 635px) <br>#fiveDealsWidget a.dealItem width:19%; margin-right:1%<br>#fiveDealsWidget a.dealItem#last width:20%<br><br>@media (max-width: 560px)<br>#fiveDealsWidget #desktop display:none;<br>#fiveDealsWidget #mobile display:block!important<br><br>#fiveDealsWidget a.dealItem background-color: #fff; height:auto; min-height:auto<br>#fiveDealsWidget a.dealItem border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px<br>#fiveDealsWidget a.dealItem#last border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px<br>#fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last width:100%<br><br>#fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage float:left; display:inline-block<br>#fiveDealsWidget .dealItemImage width:35%; margin-right:1%<br>#fiveDealsWidget .dealItemContent width:63%<br>#fiveDealsWidget .dealItemTitle margin: 0px 5px 5px; font-size:16px<br>#fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate clear:both<br><br>TOP DIY INVESTING PLATFORMS [ Low cost portfolios Low cost portfolios Cheap funds fee £1.50 fund dealing] [ Investment ideas Free fund dealing First deal free Annual 0.45 per cent account charge] [ Free investing No fees Free investing Regular investing with no fees] [ Flat fees Great service Fixed monthly cost Dealing from £7.50] [ Model portfolios Model portfolios Free fund dealing Tools and fund ideas] [ > Compare the best investing platform for you]

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−	Advice can be hard to give and even harder to receive, particularly if it comes from someone who used to do your job. <br>But Rishi Sunak should pay heed to two of his predecessors - from opposite sides of the political divide - when they urge him to cut VAT.<br><br>Mr Sunak is understood to have cooled on the idea of reducing the levy, and to want to wait and see how consumers respond to the gradual lifting of lockdown. <br>Problem is, there may not be time to do that: the downfall of shopping centre owner Intu is evidence enough of how rapidly retailers are running out of road and the situation is at least as dire in hospitality. <br> Magic touch?: Chancellor Rishi Sunak needs a proper rabbit to pull out of the hat in his quasi-Budget<br>Two former Chancellors, Sajid Javid and Alistair Darling, have come out for a cut.<br><br>There is bound to be resistance within the Treasury. Tax revenues have been hard hit in the pandemic and VAT is a very nice little earner, channelling more than £130billion into the national coffers the last tax year. <br>The sums raised, at least pre-Covid, have risen strongly from £59millon 20 years ago. We might not like paying VAT, but the Government, so the argument goes, has got to raise money from somewhere. <br>Mr Sunak may doubt a cut is necessary to encourage spending, when the lucky ones among us who still have paypackets have been turned into enforced savers and therefore have plenty of money to splurge. <br>Perfectly true, but given the uncertainty about the economy, many will opt to pay down debts or ~~[https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour hồ ba bể]~~ ramp up savings instead. <br>In that context, a VAT cut would be a bold move and send a powerful signal from the Government that it wants people to shop for Britain. Another objection is that a blanket reduction would benefit online retailers, but it could be targeted at specific sectors. <br> RELATED ARTICLES [# Previous] [# 1] [# Next] [/money/comment/article-8464401/ALEX-BRUMMER-jobs-catastrophe-averted.html ALEX BRUMMER: Chancellor Rishi Sunak will have to make the...] [/money/news/article-8453149/Small-firms-struggling-land-Bounce-loan-cash.html Small firms still struggling to land Bounce Back loan cash...] [/money/cars/article-8439837/Lockdown-costs-Treasury-2-5bn-lost-fuel-duty.html First three months of coronavirus lockdown cost the Treasury...] [/money/news/article-8428477/UK-taxpayers-face-38bn-Covid-loans-TIME-BOMB.html Britain's £38bn Covid loans timebomb: Government's rescue...] Share this article Share Setting aside the desperate need to get customers back into the shops, pubs and restaurants post-Covid, VAT at 20 per cent is too high anyway.<br><br>It is a 'regressive' tax, in that it hits the less well-off hardest.<br>The ability to control our own VAT rate is one of the potential benefits of Brexit. Readers of a certain vintage will recall that it was ~~[http://www.caringbridge.org/search?q=brought~~ brought] in to replace the old purchase tax when Britain joined the EU in 1973. <br>Under a 2006 directive, member states have to set a standard VAT rate of at least 15 per cent, but out of the EU those strictures no longer apply.<br><br>Other countries are already cutting, including Norway and Germany. <br>When Alistair Darling cut VAT to 15 per cent in 2008, to stimulate the economy after the ~~[https://www.rewards-insiders.marriott.com/search.jspa?q=financial~~ financial] crisis, it was judged to have been a success.<br>The cost then was around £12.5billion, and it would be more now. An overall reduction to 17 per cent now would cost £21billion, ~~[https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html kynghidongduong.vn]~~ which is a lot of money - but as a one-off temporary hit it would give the Chancellor a lot of bang for his buck. <br>Mr Sunak has launched a barrage of initiatives, so many, in fact, that many people have already forgotten about a lot of them. <br>We all know about furlough and bounce-back loans but other measures, including relief on business rates and cash grants of up to £25,000 for some firms, are being overlooked along with great ideas such as £150m from dormant savings accounts to help charities, or the £500m fund for high-growth enterprises. <br>The Chancellor can always follow the example of another predecessor, Gordon Brown, who thought if something was worth announcing once, it was worth announcing multiple times.<br><br>But he could still do with a proper rabbit to pull out of his hat in his quasi-Budget next month. <br>A cut in VAT would have popular appeal and send a strong message of support to troubled parts of the economy.<br>In short, just the ticket.<br> <br><br>#fiveDealsWidget .dealItemTitle#mobile display:none<br>#fiveDealsWidget display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px<br>#fiveDealsWidget div, #fiveDealsWidget a margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif<br><br>#fiveDealsWidget .widgetTitleBox display:block; float:left; width:100%; background-color:#af1e1e;<br>#fiveDealsWidget .widgetTitle color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; <br>#fiveDealsWidget a.dealItem float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;<br><br>#fiveDealsWidget a.dealItem#last margin-right:0<br>#fiveDealsWidget .dealItemTitle display:block; margin:10px 5px; color:#000; font-weight:bold<br>#fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img float:left; display:block; margin:0; padding:0<br>#fiveDealsWidget .dealItemImage border:1px solid #ccc<br><br>#fiveDealsWidget .dealItemImage img width:100%; height:auto<br>#fiveDealsWidget .dealItemdesc float:left; display:block; color:#004db3; font-weight:bold; margin:5px;<br>#fiveDealsWidget .dealItemRate float:left; display:block; color:#000; margin:5px<br>#fiveDealsWidget .footerText a:hovertext-decoration: underline;<br><br>#fiveDealsWidget .footerSmallfont-size:10px; padding-top:10px;<br>@media (max-width: 635px) <br>#fiveDealsWidget a.dealItem width:19%; margin-right:1%<br>#fiveDealsWidget a.dealItem#last width:20%<br><br>@media (max-width: 560px)<br>#fiveDealsWidget #desktop display:none;<br>#fiveDealsWidget #mobile display:block!important<br><br>#fiveDealsWidget a.dealItem background-color: #fff; height:auto; min-height:auto<br>#fiveDealsWidget a.dealItem border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px<br>#fiveDealsWidget a.dealItem#last border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px<br>#fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last width:100%<br><br>#fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage float:left; display:inline-block<br>#fiveDealsWidget .dealItemImage width:35%; margin-right:1%<br>#fiveDealsWidget .dealItemContent width:63%<br>#fiveDealsWidget .dealItemTitle margin: 0px 5px 5px; font-size:16px<br>#fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate clear:both<br><br>TOP DIY INVESTING PLATFORMS [ Low cost portfolios Low cost portfolios Cheap funds fee £1.50 fund dealing] [ Investment ideas Free fund dealing First deal free Annual 0.45 per cent account charge] [ Free investing No fees Free investing Regular investing with no fees] [ Flat fees Great service Fixed monthly cost Dealing from £7.50] [ Model portfolios Model portfolios Free fund dealing Tools and fund ideas] [ > Compare the best investing platform for you]	+	Advice can be hard to give and even harder to receive, particularly if it comes from someone who used to do your job. <br>But Rishi Sunak should pay heed to two of his predecessors - from opposite sides of the political divide - when they urge him to cut VAT.<br><br>Mr Sunak is understood to have cooled on the idea of reducing the levy, and to want to wait and see how consumers respond to the gradual lifting of lockdown. <br>Problem is, there may not be time to do that: the downfall of shopping centre owner Intu is evidence enough of how rapidly retailers are running out of road and [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html kynghidongduong.vn] the situation is at least as dire in hospitality. <br> Magic touch?: Chancellor Rishi Sunak needs a proper rabbit to pull out of the hat in his quasi-Budget<br>Two former Chancellors, Sajid Javid and Alistair Darling, have come out for a cut.<br><br>There is bound to be resistance within the Treasury. Tax revenues have been hard hit in the pandemic and VAT is a very nice little earner, channelling more than £130billion into the national coffers the last tax year. <br>The sums raised, at least pre-Covid, have risen strongly from £59millon 20 years ago. We might not like paying VAT, but the Government, so the argument goes, has got to raise money from somewhere. <br>Mr Sunak may doubt a cut is necessary to encourage spending, when the lucky ones among us who still have paypackets have been turned into enforced savers and therefore have plenty of money to splurge. <br>Perfectly true, but given the uncertainty about the economy, many will opt to pay down debts or ramp up savings instead. <br>In that context, a VAT cut would be a bold move and send a powerful signal from the Government that it wants people to shop for Britain. Another objection is that a blanket reduction would benefit online retailers, but it could be targeted at specific sectors. <br> RELATED ARTICLES [# Previous] [# 1] [# Next] [/money/comment/article-8464401/ALEX-BRUMMER-jobs-catastrophe-averted.html ALEX BRUMMER: Chancellor Rishi Sunak will have to make the...] [/money/news/article-8453149/Small-firms-struggling-land-Bounce-loan-cash.html Small firms still struggling to land Bounce Back loan cash...] [/money/cars/article-8439837/Lockdown-costs-Treasury-2-5bn-lost-fuel-duty.html First three months of coronavirus lockdown cost the Treasury...] [/money/news/article-8428477/UK-taxpayers-face-38bn-Covid-loans-TIME-BOMB.html Britain's £38bn Covid loans timebomb: Government's rescue...] Share this article Share Setting aside the desperate need to get customers back into the shops, pubs and restaurants post-Covid, VAT at 20 per cent is too high anyway.<br><br>It is a 'regressive' tax, in that it hits the less well-off hardest.<br>The ability to control our own VAT rate is one of the potential benefits of Brexit. Readers of a certain vintage will recall that it was brought in to replace the old purchase tax when Britain joined the EU in 1973. <br>Under a 2006 directive, member states have to set a standard VAT rate of at least 15 per cent, but out of the EU those strictures no longer apply.<br><br>Other countries are already cutting, including Norway and Germany. <br>When Alistair Darling cut VAT to 15 per cent in 2008, to stimulate the economy after the financial crisis, it was judged to have been a success.<br>The cost then was around £12.5billion, and it would be more now. An overall reduction to 17 per cent now would cost £21billion, which is a lot of money - but as a one-off temporary hit it would give the Chancellor a lot of bang for his buck. <br>Mr Sunak has launched a barrage of initiatives, so many, in fact, that many people have already forgotten about a lot of them. <br>We all know about furlough and bounce-back loans but other measures, including relief on business rates and cash grants of up to £25,000 for some firms, are being overlooked along with great ideas such as £150m from dormant savings accounts to help charities, or the £500m fund for high-growth enterprises. <br>The Chancellor can always follow the example of another predecessor, Gordon Brown, who thought if something was worth announcing once, it was worth announcing multiple times.<br><br>But he could still do with a proper rabbit to pull out of his hat in his quasi-Budget next month. <br>A cut in VAT would have popular appeal and send a strong message of support to troubled parts of the economy.<br>In short, just the ticket.<br> <br><br>#fiveDealsWidget .dealItemTitle#mobile display:none<br>#fiveDealsWidget display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px<br>#fiveDealsWidget div, #fiveDealsWidget a margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif<br><br>#fiveDealsWidget .[http://www.cafemom.com/search/index.php?keyword=widgetTitleBox widgetTitleBox] display:block; float:left; width:100%; background-color:#af1e1e;<br>#fiveDealsWidget .widgetTitle color:#fff; text-transform: [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour thác bản giốc] uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; <br>#fiveDealsWidget a.dealItem float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;<br><br>#fiveDealsWidget a.dealItem#last margin-right:0<br>#fiveDealsWidget .dealItemTitle display:block; margin:10px 5px; color:#000; font-weight:bold<br>#fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img float:left; display:block; margin:0; padding:0<br>#fiveDealsWidget .dealItemImage border:1px solid #ccc<br><br>#fiveDealsWidget .dealItemImage img width:100%; height:auto<br>#fiveDealsWidget .dealItemdesc float:left; display:block; color:#004db3; font-weight:bold; margin:5px;<br>#fiveDealsWidget .dealItemRate float:left; display:block; color:#000; margin:5px<br>#fiveDealsWidget .footerText a:hovertext-decoration: underline;<br><br>#fiveDealsWidget .footerSmallfont-size:10px; padding-top:10px;<br>@media (max-width: 635px) <br>#fiveDealsWidget a.dealItem width:19%; margin-right:1%<br>#fiveDealsWidget a.dealItem#last width:20%<br><br>@media (max-width: 560px)<br>#fiveDealsWidget #desktop display:none;<br>#fiveDealsWidget #mobile display:block!important<br><br>#fiveDealsWidget a.dealItem background-color: #fff; height:auto; min-height:auto<br>#fiveDealsWidget a.dealItem border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px<br>#fiveDealsWidget a.dealItem#last border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px<br>#fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last width:100%<br><br>#fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage float:left; display:inline-block<br>#fiveDealsWidget .dealItemImage width:35%; margin-right:1%<br>#fiveDealsWidget .dealItemContent width:63%<br>#fiveDealsWidget .dealItemTitle margin: 0px 5px 5px; font-size:16px<br>#fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate clear:both<br><br>TOP DIY INVESTING PLATFORMS [ Low cost portfolios Low cost portfolios Cheap funds fee £1.50 fund dealing] [ Investment ideas Free fund dealing First deal free Annual 0.45 per cent account charge] [ Free investing No fees Free investing Regular investing with no fees] [ Flat fees Great service Fixed monthly cost Dealing from £7.50] [ Model portfolios Model portfolios Free fund dealing Tools and fund ideas] [ > Compare the best investing platform for you]

← Nächstältere Version		Version vom 20. Juli 2020, 18:55 Uhr
Zeile 1:		Zeile 1:
−	Advice can be hard to give and even harder to receive, particularly if it comes from someone who used to do your job. <br>But Rishi Sunak should pay heed to two of his predecessors - from opposite sides of the political divide - when they urge him to cut VAT.<br><br>Mr Sunak is understood to have cooled on the idea of reducing the levy, and to want to wait and see how consumers respond to the gradual lifting of lockdown. <br>Problem is, there may not be time to do that: the downfall of shopping centre owner Intu is evidence enough of how rapidly retailers are running out of road and the situation is at least as dire in hospitality. <br> Magic touch?: Chancellor Rishi Sunak needs a proper rabbit to pull out of the hat in his quasi-Budget<br>Two former Chancellors, Sajid Javid and Alistair Darling, have come out for a cut.<br><br>There is bound to be resistance within the Treasury. Tax revenues have been hard hit in the pandemic and VAT is a very nice little earner, ~~[https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour thác bản giốc]~~ channelling more than £130billion into the national coffers the last tax year. <br>The sums raised, at least pre-Covid, have risen strongly from £59millon 20 years ago. We might not like paying VAT, but the Government, so the argument goes, has got to raise money from somewhere. <br>Mr Sunak may doubt a cut is necessary to encourage spending, when the lucky ones among us who still have paypackets have been turned into enforced savers and therefore have plenty of money to splurge. <br>Perfectly true, but given the uncertainty about the economy, many will opt to pay down debts or ramp up savings instead. <br>In that context, a VAT cut would be a bold move and send a powerful signal from the Government that it wants people to shop for Britain. Another objection is that a blanket reduction would benefit online retailers, but it could be targeted at specific sectors. <br> RELATED ARTICLES [# Previous] [# 1] [# Next] [/money/comment/article-8464401/ALEX-BRUMMER-jobs-catastrophe-averted.html ALEX BRUMMER: Chancellor Rishi Sunak will have to make the...] [/money/news/article-8453149/Small-firms-struggling-land-Bounce-loan-cash.html Small firms still struggling to land Bounce Back loan cash...] [/money/cars/article-8439837/Lockdown-costs-Treasury-2-5bn-lost-fuel-duty.html First three months of coronavirus lockdown cost the Treasury...] [/money/news/article-8428477/UK-taxpayers-face-38bn-Covid-loans-TIME-BOMB.html Britain's £38bn Covid loans timebomb: Government's rescue...] Share this article Share Setting aside the desperate need to get customers back into the shops, pubs and restaurants post-Covid, VAT at 20 per cent is too high anyway.<br><br>It is a 'regressive' tax, in that it hits the less well-off hardest.<br>The ability to control our own VAT rate is one of the potential benefits of Brexit. Readers of a certain vintage will recall that it was brought in to replace the old purchase tax when Britain joined the EU in 1973. <br>Under a 2006 directive, member states have to set a standard VAT rate of at least 15 per cent, but out of the EU those strictures no longer apply.<br><br>Other countries are already cutting, including Norway and Germany. <br>When Alistair Darling cut VAT to 15 per cent in 2008, to stimulate the economy after the financial crisis, it was judged to have been a success.<br>The cost then was around £12.5billion, and it would be more now. An overall reduction to 17 per cent now would cost £21billion, which is a lot of money - but as a one-off temporary hit it would give the Chancellor a lot of bang for his buck. <br>Mr Sunak has launched a barrage of initiatives, so many, in fact, that many people have already forgotten about a lot of them. <br>We all know about furlough and bounce-back loans but other measures, including relief on business rates and cash grants of up to £25,000 for some firms, are being ~~[http://www.europeana.eu/portal/search.html?query=~~overlooked ~~overlooked]~~ along with great ideas such as £150m from dormant savings accounts to help charities, ~~[https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html kynghidongduong.vn]~~ or the £500m fund for high-growth enterprises. <br>The Chancellor can always follow the example of another predecessor, Gordon Brown, who thought if something was worth announcing once, it was worth announcing multiple times.<br><br>But he could still do with a proper rabbit to pull out of his hat in his quasi-Budget next month. <br>A cut in VAT would have popular appeal and send a strong message of support to troubled parts of the economy.<br>In short, just the ticket.<br> <br><br>#fiveDealsWidget .dealItemTitle#mobile display:none<br>#fiveDealsWidget display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px<br>#fiveDealsWidget div, #fiveDealsWidget a margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif<br><br>#fiveDealsWidget .widgetTitleBox display:block; float:left; width:100%; background-color:#af1e1e;<br>#fiveDealsWidget .widgetTitle color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; <br>#fiveDealsWidget a.dealItem float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;<br><br>#fiveDealsWidget a.dealItem#last margin-right:0<br>#fiveDealsWidget .dealItemTitle display:block; margin:10px 5px; color:#000; font-weight:bold<br>#fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img float:left; display:block; margin:0; padding:0<br>#fiveDealsWidget .dealItemImage border:1px solid #ccc<br><br>#fiveDealsWidget .dealItemImage img width:100%; height:auto<br>#fiveDealsWidget .dealItemdesc float:left; display:block; color:#004db3; font-weight:bold; margin:5px;<br>#fiveDealsWidget .dealItemRate float:left; display:block; color:#000; margin:5px<br>#fiveDealsWidget .footerText a:hovertext-decoration: underline;<br><br>#fiveDealsWidget .footerSmallfont-size:10px; padding-top:10px;<br>@media (max-width: 635px) <br>#fiveDealsWidget a.dealItem width:19%; margin-right:1%<br>#fiveDealsWidget a.dealItem#last width:20%<br><br>@media (max-width: 560px)<br>#fiveDealsWidget #desktop display:none;<br>#fiveDealsWidget #mobile display:block!important<br><br>#fiveDealsWidget a.dealItem background-color: #fff; height:auto; min-height:auto<br>#fiveDealsWidget a.dealItem border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px<br>#fiveDealsWidget a.dealItem#last border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px<br>#fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last width:100%<br><br>#fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage float:left; display:inline-block<br>#fiveDealsWidget .dealItemImage width:35%; margin-right:1%<br>#fiveDealsWidget .dealItemContent width:63%<br>#fiveDealsWidget .dealItemTitle margin: 0px 5px 5px; font-size:16px<br>#fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate clear:both<br><br>TOP DIY INVESTING PLATFORMS [ Low cost portfolios Low cost portfolios Cheap funds fee £1.50 fund dealing] [ Investment ideas Free fund dealing First deal free Annual 0.45 per cent account charge] [ Free investing No fees Free investing Regular investing with no fees] [ Flat fees Great service Fixed monthly cost Dealing from £7.50] [ Model portfolios Model portfolios Free fund dealing Tools and fund ideas] [ > Compare the best investing platform for you]	+	Advice can be hard to give and even harder to receive, particularly if it comes from someone who used to do your job. <br>But Rishi Sunak should pay heed to two of his predecessors - from opposite sides of the political divide - when they urge him to cut VAT.<br><br>Mr Sunak is understood to have cooled on the idea of reducing the levy, and to want to wait and see how consumers respond to the gradual lifting of lockdown. <br>Problem is, there may not be time to do that: the downfall of shopping centre owner Intu is evidence enough of how rapidly retailers are running out of road and the situation is at least as dire in hospitality. <br> Magic touch?: Chancellor Rishi Sunak needs a proper rabbit to pull out of the hat in his quasi-Budget<br>Two former Chancellors, Sajid Javid and Alistair Darling, have come out for a cut.<br><br>There is bound to be resistance within the Treasury. Tax revenues have been hard hit in the pandemic and VAT is a very nice little earner, channelling more than £130billion into the national coffers the last tax year. <br>The sums raised, at least pre-Covid, have risen strongly from £59millon 20 years ago. We might not like paying VAT, but the Government, so the argument goes, has got to raise money from somewhere. <br>Mr Sunak may doubt a cut is necessary to encourage spending, when the lucky ones among us who still have paypackets have been turned into enforced savers and therefore have plenty of money to splurge. <br>Perfectly true, but given the uncertainty about the economy, many will opt to pay down debts or [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour hồ ba bể] ramp up savings instead. <br>In that context, a VAT cut would be a bold move and send a powerful signal from the Government that it wants people to shop for Britain. Another objection is that a blanket reduction would benefit online retailers, but it could be targeted at specific sectors. <br> RELATED ARTICLES [# Previous] [# 1] [# Next] [/money/comment/article-8464401/ALEX-BRUMMER-jobs-catastrophe-averted.html ALEX BRUMMER: Chancellor Rishi Sunak will have to make the...] [/money/news/article-8453149/Small-firms-struggling-land-Bounce-loan-cash.html Small firms still struggling to land Bounce Back loan cash...] [/money/cars/article-8439837/Lockdown-costs-Treasury-2-5bn-lost-fuel-duty.html First three months of coronavirus lockdown cost the Treasury...] [/money/news/article-8428477/UK-taxpayers-face-38bn-Covid-loans-TIME-BOMB.html Britain's £38bn Covid loans timebomb: Government's rescue...] Share this article Share Setting aside the desperate need to get customers back into the shops, pubs and restaurants post-Covid, VAT at 20 per cent is too high anyway.<br><br>It is a 'regressive' tax, in that it hits the less well-off hardest.<br>The ability to control our own VAT rate is one of the potential benefits of Brexit. Readers of a certain vintage will recall that it was [http://www.caringbridge.org/search?q=brought brought] in to replace the old purchase tax when Britain joined the EU in 1973. <br>Under a 2006 directive, member states have to set a standard VAT rate of at least 15 per cent, but out of the EU those strictures no longer apply.<br><br>Other countries are already cutting, including Norway and Germany. <br>When Alistair Darling cut VAT to 15 per cent in 2008, to stimulate the economy after the [https://www.rewards-insiders.marriott.com/search.jspa?q=financial financial] crisis, it was judged to have been a success.<br>The cost then was around £12.5billion, and it would be more now. An overall reduction to 17 per cent now would cost £21billion, [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html kynghidongduong.vn] which is a lot of money - but as a one-off temporary hit it would give the Chancellor a lot of bang for his buck. <br>Mr Sunak has launched a barrage of initiatives, so many, in fact, that many people have already forgotten about a lot of them. <br>We all know about furlough and bounce-back loans but other measures, including relief on business rates and cash grants of up to £25,000 for some firms, are being overlooked along with great ideas such as £150m from dormant savings accounts to help charities, or the £500m fund for high-growth enterprises. <br>The Chancellor can always follow the example of another predecessor, Gordon Brown, who thought if something was worth announcing once, it was worth announcing multiple times.<br><br>But he could still do with a proper rabbit to pull out of his hat in his quasi-Budget next month. <br>A cut in VAT would have popular appeal and send a strong message of support to troubled parts of the economy.<br>In short, just the ticket.<br> <br><br>#fiveDealsWidget .dealItemTitle#mobile display:none<br>#fiveDealsWidget display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px<br>#fiveDealsWidget div, #fiveDealsWidget a margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif<br><br>#fiveDealsWidget .widgetTitleBox display:block; float:left; width:100%; background-color:#af1e1e;<br>#fiveDealsWidget .widgetTitle color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; <br>#fiveDealsWidget a.dealItem float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;<br><br>#fiveDealsWidget a.dealItem#last margin-right:0<br>#fiveDealsWidget .dealItemTitle display:block; margin:10px 5px; color:#000; font-weight:bold<br>#fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img float:left; display:block; margin:0; padding:0<br>#fiveDealsWidget .dealItemImage border:1px solid #ccc<br><br>#fiveDealsWidget .dealItemImage img width:100%; height:auto<br>#fiveDealsWidget .dealItemdesc float:left; display:block; color:#004db3; font-weight:bold; margin:5px;<br>#fiveDealsWidget .dealItemRate float:left; display:block; color:#000; margin:5px<br>#fiveDealsWidget .footerText a:hovertext-decoration: underline;<br><br>#fiveDealsWidget .footerSmallfont-size:10px; padding-top:10px;<br>@media (max-width: 635px) <br>#fiveDealsWidget a.dealItem width:19%; margin-right:1%<br>#fiveDealsWidget a.dealItem#last width:20%<br><br>@media (max-width: 560px)<br>#fiveDealsWidget #desktop display:none;<br>#fiveDealsWidget #mobile display:block!important<br><br>#fiveDealsWidget a.dealItem background-color: #fff; height:auto; min-height:auto<br>#fiveDealsWidget a.dealItem border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px<br>#fiveDealsWidget a.dealItem#last border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px<br>#fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last width:100%<br><br>#fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage float:left; display:inline-block<br>#fiveDealsWidget .dealItemImage width:35%; margin-right:1%<br>#fiveDealsWidget .dealItemContent width:63%<br>#fiveDealsWidget .dealItemTitle margin: 0px 5px 5px; font-size:16px<br>#fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate clear:both<br><br>TOP DIY INVESTING PLATFORMS [ Low cost portfolios Low cost portfolios Cheap funds fee £1.50 fund dealing] [ Investment ideas Free fund dealing First deal free Annual 0.45 per cent account charge] [ Free investing No fees Free investing Regular investing with no fees] [ Flat fees Great service Fixed monthly cost Dealing from £7.50] [ Model portfolios Model portfolios Free fund dealing Tools and fund ideas] [ > Compare the best investing platform for you]

← Nächstältere Version		Version vom 19. Juli 2020, 21:17 Uhr
Zeile 1:		Zeile 1:
−	Advice can be hard to give and even harder to receive, particularly if it comes from someone who used to do your job. <br>But Rishi Sunak should pay heed to two of his predecessors - from opposite sides of the political divide - when they urge him to cut VAT.<br><br>Mr Sunak is understood to have cooled on the idea of reducing the levy, and to want to wait and see how consumers respond to the gradual lifting of lockdown. <br>Problem is, there may not be time to do that: the downfall of shopping centre owner Intu is evidence enough of how rapidly retailers are running out of road and the situation is at least as dire in hospitality. <br> Magic touch?: Chancellor Rishi Sunak needs a proper rabbit to pull out of the hat in his quasi-Budget<br>Two former Chancellors, Sajid Javid and Alistair Darling, have come out for a cut.<br><br>There is bound to be resistance within the ~~[http://www.alexa.com/search?q=~~Treasury~~&r=topsites_index&p=bigtop Treasury]~~. Tax revenues have been hard hit in the pandemic and [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour thác bản giốc] ~~VAT is a very nice little earner,~~ channelling more than £130billion into the national coffers the last tax year. <br>The sums raised, at least pre-Covid, have risen strongly from £59millon 20 years ago. We might not like paying VAT, but the Government, so the argument goes, has got to raise money from somewhere. <br>Mr Sunak may doubt a cut is necessary to encourage spending, when the lucky ones among us who still have paypackets have been turned into enforced savers and therefore have plenty of money to splurge. <br>Perfectly true, but given the uncertainty about the economy, many will opt to pay down debts or ramp up savings instead. <br>In that context, a VAT cut would be a bold move and send a powerful signal from the Government that it wants people to shop for ~~[https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour thác bản giốc từ hà nội]~~ Britain. Another objection is that a blanket reduction would benefit online retailers, but it could be targeted at specific sectors. <br> RELATED ARTICLES [# Previous] [# 1] [# Next] [/money/comment/article-8464401/ALEX-BRUMMER-jobs-catastrophe-averted.html ALEX BRUMMER: Chancellor Rishi Sunak will have to make the...] [/money/news/article-8453149/Small-firms-struggling-land-Bounce-loan-cash.html Small firms still struggling to land Bounce Back loan cash...] [/money/cars/article-8439837/Lockdown-costs-Treasury-2-5bn-lost-fuel-duty.html First three months of coronavirus lockdown cost the Treasury...] [/money/news/article-8428477/UK-taxpayers-face-38bn-Covid-loans-TIME-BOMB.html Britain's £38bn Covid loans timebomb: Government's rescue...] Share this article Share Setting aside the desperate need to get customers back into the shops, pubs and restaurants post-Covid, VAT at 20 per cent is too high anyway.<br><br>It is a 'regressive' tax, in that it hits the less well-off hardest.<br>The ability to control our own VAT rate is one of the potential benefits of Brexit. Readers of a certain vintage will recall that it was brought in to replace the old purchase tax when Britain joined the EU in 1973. <br>Under a 2006 directive, member states have to set a standard VAT rate of at least 15 per cent, but out of the EU those strictures no longer apply.<br><br>Other countries are already cutting, including Norway and Germany. <br>When Alistair Darling cut VAT to 15 per cent in 2008, to stimulate the economy after the financial crisis, it was judged to have been a success.<br>The cost then was around £12.5billion, and it would be more now. An overall reduction to 17 per cent now would cost £21billion, which is a lot of money - but as a one-off temporary hit it would give the Chancellor a lot of bang for his buck. <br>Mr Sunak has launched a barrage of initiatives, so many, ~~[https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html kynghidongduong.vn]~~ in fact, that many people have already forgotten about a lot of them. <br>We all know about furlough and bounce-back loans but other measures, including relief on business rates and cash grants of up to £25,000 for some firms, are being overlooked along with great ideas such as £150m from dormant savings accounts to help charities, or the £500m fund for high-growth enterprises. <br>The Chancellor can always follow the example of another predecessor, Gordon Brown, who thought if something was worth announcing once, it was worth announcing multiple times.<br><br>But he could still do with a proper rabbit to pull out of his hat in his quasi-Budget next month. <br>A cut in VAT would have popular appeal and send a strong message of support to troubled parts of the economy.<br>In short, just the ticket.<br> <br><br>#fiveDealsWidget .dealItemTitle#mobile display:none<br>#fiveDealsWidget display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px<br>#fiveDealsWidget div, #fiveDealsWidget a margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif<br><br>#fiveDealsWidget .widgetTitleBox display:block; float:left; width:100%; background-color:#af1e1e;<br>#fiveDealsWidget .widgetTitle color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; <br>#fiveDealsWidget a.dealItem float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;<br><br>#fiveDealsWidget a.dealItem#last margin-right:0<br>#fiveDealsWidget .dealItemTitle display:block; margin:10px 5px; color:#000; font-weight:bold<br>#fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img float:left; display:block; margin:0; padding:0<br>#fiveDealsWidget .dealItemImage border:1px solid #ccc<br><br>#fiveDealsWidget .dealItemImage img width:100%; 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display:inline-block<br>#fiveDealsWidget .dealItemImage width:35%; margin-right:1%<br>#fiveDealsWidget .dealItemContent width:63%<br>#fiveDealsWidget .dealItemTitle margin: 0px 5px 5px; font-size:16px<br>#fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate clear:both<br><br>TOP DIY INVESTING PLATFORMS [ Low cost portfolios Low cost portfolios Cheap funds fee £1.50 fund dealing] [ Investment ideas Free fund dealing First deal free Annual 0.45 per cent account charge] [ Free investing No fees Free investing Regular investing with no fees] [ Flat fees Great service Fixed monthly cost Dealing from £7.50] [ Model portfolios Model portfolios Free fund dealing Tools and fund ideas] [ > Compare the best investing platform for you]	+	Advice can be hard to give and even harder to receive, particularly if it comes from someone who used to do your job. <br>But Rishi Sunak should pay heed to two of his predecessors - from opposite sides of the political divide - when they urge him to cut VAT.<br><br>Mr Sunak is understood to have cooled on the idea of reducing the levy, and to want to wait and see how consumers respond to the gradual lifting of lockdown. <br>Problem is, there may not be time to do that: the downfall of shopping centre owner Intu is evidence enough of how rapidly retailers are running out of road and the situation is at least as dire in hospitality. <br> Magic touch?: Chancellor Rishi Sunak needs a proper rabbit to pull out of the hat in his quasi-Budget<br>Two former Chancellors, Sajid Javid and Alistair Darling, have come out for a cut.<br><br>There is bound to be resistance within the Treasury. Tax revenues have been hard hit in the pandemic and VAT is a very nice little earner, [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html tour thác bản giốc] channelling more than £130billion into the national coffers the last tax year. <br>The sums raised, at least pre-Covid, have risen strongly from £59millon 20 years ago. We might not like paying VAT, but the Government, so the argument goes, has got to raise money from somewhere. <br>Mr Sunak may doubt a cut is necessary to encourage spending, when the lucky ones among us who still have paypackets have been turned into enforced savers and therefore have plenty of money to splurge. <br>Perfectly true, but given the uncertainty about the economy, many will opt to pay down debts or ramp up savings instead. <br>In that context, a VAT cut would be a bold move and send a powerful signal from the Government that it wants people to shop for Britain. Another objection is that a blanket reduction would benefit online retailers, but it could be targeted at specific sectors. <br> RELATED ARTICLES [# Previous] [# 1] [# Next] [/money/comment/article-8464401/ALEX-BRUMMER-jobs-catastrophe-averted.html ALEX BRUMMER: Chancellor Rishi Sunak will have to make the...] [/money/news/article-8453149/Small-firms-struggling-land-Bounce-loan-cash.html Small firms still struggling to land Bounce Back loan cash...] [/money/cars/article-8439837/Lockdown-costs-Treasury-2-5bn-lost-fuel-duty.html First three months of coronavirus lockdown cost the Treasury...] [/money/news/article-8428477/UK-taxpayers-face-38bn-Covid-loans-TIME-BOMB.html Britain's £38bn Covid loans timebomb: Government's rescue...] Share this article Share Setting aside the desperate need to get customers back into the shops, pubs and restaurants post-Covid, VAT at 20 per cent is too high anyway.<br><br>It is a 'regressive' tax, in that it hits the less well-off hardest.<br>The ability to control our own VAT rate is one of the potential benefits of Brexit. Readers of a certain vintage will recall that it was brought in to replace the old purchase tax when Britain joined the EU in 1973. <br>Under a 2006 directive, member states have to set a standard VAT rate of at least 15 per cent, but out of the EU those strictures no longer apply.<br><br>Other countries are already cutting, including Norway and Germany. <br>When Alistair Darling cut VAT to 15 per cent in 2008, to stimulate the economy after the financial crisis, it was judged to have been a success.<br>The cost then was around £12.5billion, and it would be more now. An overall reduction to 17 per cent now would cost £21billion, which is a lot of money - but as a one-off temporary hit it would give the Chancellor a lot of bang for his buck. <br>Mr Sunak has launched a barrage of initiatives, so many, in fact, that many people have already forgotten about a lot of them. <br>We all know about furlough and bounce-back loans but other measures, including relief on business rates and cash grants of up to £25,000 for some firms, are being [http://www.europeana.eu/portal/search.html?query=overlooked overlooked] along with great ideas such as £150m from dormant savings accounts to help charities, [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-noi-bac-kan-ho-ba-be-cao-bang-hang-pac-bo-thac-ban-gioc.html kynghidongduong.vn] or the £500m fund for high-growth enterprises. <br>The Chancellor can always follow the example of another predecessor, Gordon Brown, who thought if something was worth announcing once, it was worth announcing multiple times.<br><br>But he could still do with a proper rabbit to pull out of his hat in his quasi-Budget next month. <br>A cut in VAT would have popular appeal and send a strong message of support to troubled parts of the economy.<br>In short, just the ticket.<br> <br><br>#fiveDealsWidget .dealItemTitle#mobile display:none<br>#fiveDealsWidget display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px<br>#fiveDealsWidget div, #fiveDealsWidget a margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif<br><br>#fiveDealsWidget .widgetTitleBox display:block; float:left; width:100%; background-color:#af1e1e;<br>#fiveDealsWidget .widgetTitle color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; <br>#fiveDealsWidget a.dealItem float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;<br><br>#fiveDealsWidget a.dealItem#last margin-right:0<br>#fiveDealsWidget .dealItemTitle display:block; margin:10px 5px; color:#000; font-weight:bold<br>#fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img float:left; display:block; margin:0; padding:0<br>#fiveDealsWidget .dealItemImage border:1px solid #ccc<br><br>#fiveDealsWidget .dealItemImage img width:100%; height:auto<br>#fiveDealsWidget .dealItemdesc float:left; display:block; color:#004db3; font-weight:bold; margin:5px;<br>#fiveDealsWidget .dealItemRate float:left; display:block; color:#000; margin:5px<br>#fiveDealsWidget .footerText a:hovertext-decoration: underline;<br><br>#fiveDealsWidget .footerSmallfont-size:10px; padding-top:10px;<br>@media (max-width: 635px) <br>#fiveDealsWidget a.dealItem width:19%; margin-right:1%<br>#fiveDealsWidget a.dealItem#last width:20%<br><br>@media (max-width: 560px)<br>#fiveDealsWidget #desktop display:none;<br>#fiveDealsWidget #mobile display:block!important<br><br>#fiveDealsWidget a.dealItem background-color: #fff; height:auto; min-height:auto<br>#fiveDealsWidget a.dealItem border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px<br>#fiveDealsWidget a.dealItem#last border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px<br>#fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last width:100%<br><br>#fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage float:left; display:inline-block<br>#fiveDealsWidget .dealItemImage width:35%; margin-right:1%<br>#fiveDealsWidget .dealItemContent width:63%<br>#fiveDealsWidget .dealItemTitle margin: 0px 5px 5px; font-size:16px<br>#fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate clear:both<br><br>TOP DIY INVESTING PLATFORMS [ Low cost portfolios Low cost portfolios Cheap funds fee £1.50 fund dealing] [ Investment ideas Free fund dealing First deal free Annual 0.45 per cent account charge] [ Free investing No fees Free investing Regular investing with no fees] [ Flat fees Great service Fixed monthly cost Dealing from £7.50] [ Model portfolios Model portfolios Free fund dealing Tools and fund ideas] [ > Compare the best investing platform for you]