What was vat in 2008




















However, Tory former chancellor Kenneth Clarke believes a reduction in sales tax could 'stimulate spending and consumer demand'. Matthew Elliott, chief executive of the TaxPayers' Alliance, said: 'Ordinary families and businesses urgently need radical tax cuts, and a VAT cut would be a welcome start.

In a speech to the Confederation of British Industry annual conference, hours before the Commons statement, Gordon Brown will say Britain needs a 'boost to the economy to sustain growth that will help to keep businesses open and protect people's jobs and homes'. Ministerial sources insisted last night that the VAT proposal should not be viewed in isolation but as part of a wide-ranging series of measures designed to trigger 'consumption' in the economy.

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products.

We do not allow any commercial relationship to affect our editorial independence. No comments have so far been submitted. Why not be the first to send us your thoughts, or debate this issue live on our message boards.

How we can help Contact us. Can Britain keep up in the race to build green tech? Want to invest in Britain's next success? Stairways to heaven! Toggle Search. Youngs sales almost treble as brewer and pub owner shakes Burberry to open 50 new stores targeting higher spenders High Street sales help WH Smith to overcome losses from Ferrari BR20 is a one-off creation inspired by s cars New Indian owners of iconic British motorcycle brand Taylor Wimpey shrugs off supply chain crisis as booming Kia to go electric by Korean car maker is the Losses narrow at Ted Baker as shoppers return to stores Property drought keeps pushing up house prices - as three When you see a price for something in a shop, any VAT will already have been added.

There are also various items for which you do not have to pay any VAT, such as most supermarket food, children's clothing, newspapers and magazines.

VAT accounts for around 6. In VAT was the third biggest income generator for the UK government, after income tax and national insurance contributions.

These three taxes together raise more than half of government tax receipts. The standard rate of VAT increased from The aim of the cut was to boost consumer spending with retailers expected to pass the reduction on to customers.

At the time, opinion was divided about the policy with then Conservative leader David Cameron calling it an "unbelievable and expensive failure". The Institute for Fiscal Studies was more supportive. You can change your cookie preferences at any time by clicking the Cookie preferences link in the footer of every page on this website. Survey cookies are set by a third-party service provided by Qualtrics.

These cookies are required in order for our feedback functionality to work. The survey cookies collect information about the page you are providing feedback from. When you save your survey cookies choice below, a cookie will be saved on your device to remember your choice. These cookies are set as session cookies and will be deleted once you close this browsing session.

We welcome your feedback and you can help us to continue to improve our website by turning survey cookies on. This website uses cookies in order for our video functionality to work. You can choose to set these optional video cookies that are described below.

YouTube cookies are set by a third-party service provided by YouTube, a company owned by Google.



0コメント

  • 1000 / 1000