Posts Tagged “vat”

Ed Balls shifts Labour’s position closer to the Lib Dems: is this the start of a Lib-Lab realignment?

by Stephen Tall on June 4, 2013

Ed Balls’ speech to Thomson Reuters yesterday grabbed headlines for its concession that paying a winter fuel allowance to the wealthiest 5% of pensioners could no longer be justified. The likely saving — at c.£100m a year, no more than a rounding error in the national accounts – may be modest, but the symbolism is […]

The VAT rise: a refresher course for Labour

by Stephen Tall on January 4, 2011

Today’s increase in VAT from 17.5% to 20% — announced in the Coalition’s emergency budget last year — has triggered a fresh burst of opportunism criticism from Labour. The “wrong tax at the wrong time” claims their leader Ed Miliband. How Labour’s last Chancellor backed a VAT rise I suspect there’s a Labour MP we […]

When is a rebellion not a rebellion?

by Stephen Tall on July 15, 2010

The Coalition decision to raise VAT was, by some measure, the most controversial aspect of the Government’s first budget. In our recent survey of party members, 42% opposed the move, though 48% endorsed it (however reluctantly) to deal with the deficit. The party’s MPs have also been wrestling with the issue. The VAT increase was […]

Tory VAT tax rises and Michael Caine … the spoof posters collection

by Stephen Tall on April 9, 2010

On the day that the Lib Dems tried to smoke out the Tories’ true position on whether they’ll jack-up VAT by 3% – annual cost to the average household, £389 – to pay for their unfunded tax-cuts, David Cameron was joined by a man worth £45m who rather likes the Tories’ promise to cut taxes […]

Nick Clegg reveals Tories’ £13bn VAT bombshell

by Stephen Tall on April 8, 2010

For the past week, the Tories have been decrying Labour’s plans to raise National Insurance, pledging to reverse the rise but with a startling lack of clarity about how they will pay for it – beyond vague talk of ‘efficiency savings’, the kind of fantasy finance David Cameron and George Osborne would be quick to […]

Jeremy Browne: VAT cut has helped the richest the most

by Stephen Tall on April 8, 2009

The Lib Dem press release headline is stark: Wasteful VAT cut only benefiting the rich. (It’s also, whisper it gently, not 100% accurate: for ‘only’ read ‘mostly (ish)’). Here’s what Lib Dem shadow chief financial secretary Jeremy Browne has to (…)

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