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Author Topic: That VAT cut  (Read 8283 times)

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Offline Nick

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That VAT cut
« on: November 23, 2008, 08:35:41 PM »
Found this on the blogosphere.Interesting

Quote
PS M'learned friend the Village Postmaster makes an excellent point about the prospective cut in VAT. Since VAT is levied on turnover, not on an item by item basis, there is no compulsion on retailers to spread the 2.5% cut evenly across the shop. It would be much more rational for them to load the cut onto items where there'd be the biggest response in terms of extra sales. F'rinstance, booze - Tescos could load the cut on to their famous 22p lager - get it down to say 15p a can. Or fags - what about giving smokers a break? Or petrol? These are all things that have really suffered from having a high tax madman at the controls. And surely nothing would cheer us up more than cheaper booze, fags, and gas guzzling? The Postmaster describes the VAT cut as Gordo's contribution to the marketing budget of our biggest retailers. Sirs Terry and Stuart will be pleased. As will the overseas manufacturers who now supply our shops with virtually everything we'll be buying
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Offline Darwins Selection

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Re: Thai VAT cut
« Reply #1 on: November 23, 2008, 11:43:19 PM »
Must get to Specsavers.  redface:

Three times I read the title as "Thai VAT cut" and wondered why the little gamelan tinklers were ahead of us.

The quote is of course 100% correct unless they split the VAT rating across defined categories.
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Offline Barman

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Re: That VAT cut
« Reply #2 on: November 24, 2008, 05:41:00 AM »
Interesting point on VAT...  rubschin:

I think if the rate is cut to 15% the sheeple would expect to be able to get a 2½% discount on things they want to buy and not necessarily stock up on White Lightening or whatever...  noooo:

Looks like Gorgon is going to give away billions on Monday today but I can't see the 'stimulus' package having any more effect than trying to stimulate him into being interesting with a cattle prod.

Sheeple will obviously welcome a few quid off their weekly bills and would love a tax rebate but, given the length and depth of the likely recession, if they have a few quid left over at the end of the month I think it is more likely that they'll stick it under the mattress for a rainy day than do a Viv Nicholson...  noooo:

Anyhoo... the UK makes fuck all now... if the Sheeple do go out and blow their windfall on new TVs and DVDs they'll all have to be imported.

Election in April or May.  cussing:
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Offline Bar Wench

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Re: That VAT cut
« Reply #3 on: November 24, 2008, 08:38:55 AM »
According to an "expert" on the tv this morning, it will be more of a psychological effect. People will "think" it is massively cheaper and so go out and load up.

So really it will just be digging us deeper into the hole.
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Offline Barman

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Re: That VAT cut
« Reply #4 on: November 24, 2008, 08:42:47 AM »
Quote from: Bar Wench on November 24, 2008, 08:38:55 AM
According to an "expert" on the tv this morning, it will be more of a psychological effect. People will "think" it is massively cheaper and so go out and load up.

So really it will just be digging us deeper into the hole.
Unless he can pull something really amazing and unexpected out of the bag I don't think the sheeple will fall for it and go out spending...  rubschin:

The spin doctors must be spinning like tops at the moment...
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Offline Bar Wench

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Re: That VAT cut
« Reply #5 on: November 24, 2008, 08:51:58 AM »
It's this years Farepak.  noooo:
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Offline Nick

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Re: That VAT cut
« Reply #6 on: November 24, 2008, 09:03:03 AM »
Just heard a good dissection of hte whole package on The Today programme. Must be on listen again later, will post alink.

Essentially, it is argued (correctly I believe) that they are borrowing £300 off each of us to give us back in taxes and then we have to repay ourselves later. With this £300 we are meant to go out and spend spend spend to save the economy.

Shite
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Offline Barman

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Re: That VAT cut
« Reply #7 on: November 24, 2008, 09:08:52 AM »
Quote from: Nick on November 24, 2008, 09:03:03 AM
Just heard a good dissection of hte whole package on The Today programme. Must be on listen again later, will post alink.

Essentially, it is argued (correctly I believe) that they are borrowing £300 off each of us to give us back in taxes and then we have to repay ourselves later. With this £300 we are meant to go out and spend spend spend to save the economy.

Shite
Didn't the US give everybody $700?  rubschin:
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Offline Nick

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Re: That VAT cut
« Reply #8 on: November 24, 2008, 09:09:45 AM »
Maybe, and now Ford, GM and Chrysler are on the verge of collapse.
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Offline Bar Wench

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Re: That VAT cut
« Reply #9 on: November 24, 2008, 09:10:28 AM »
But that was an actually cheque! Frankly if I had an actual £300 cheque in the post I probably would spend it.  redface:

2.5% off VAT isn't going to change my spending habits one iota.
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Offline GROWLER

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Re: That VAT cut
« Reply #10 on: November 24, 2008, 09:11:18 AM »
All utter buncumb.

Sheepies delight however. ::)
Fiver off a LCD tv. I can hardly contain meself , and must rush out and buy a new Mondeo with a £300 reduction too to carry it home like. eeek:

20% (at least) VAT within 18 months, you see. He's been gagging to increase it for years. cussing:
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Offline Darwins Selection

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Re: That VAT cut
« Reply #11 on: November 24, 2008, 09:12:36 AM »
Quote from: Bar Wench on November 24, 2008, 09:10:28 AM
But that was an actually cheque! Frankly if I had an actual £300 cheque in the post I probably would spend it.  redface:

2.5% off VAT isn't going to change my spending habits one iota.

"British Tat Industry shares soar"
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Offline Nick

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Re: That VAT cut
« Reply #12 on: November 24, 2008, 09:13:39 AM »
It's not available yet, but it will be here later and the interview began at 8.54


http://news.bbc.co.uk/today/hi/today/newsid_7745000/7745197.stm
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Offline Snoopy

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Re: That VAT cut
« Reply #13 on: November 24, 2008, 10:53:45 AM »
Heard it "live" thanks all the same ~ It is of course "speculation" until the Chancellor actually announces it.
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Offline Barman

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Re: That VAT cut
« Reply #14 on: November 24, 2008, 03:29:25 PM »
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