PUT THE POLITICIANS ON THE MINIMUM WAGE AND WATCH HOW FAST THINGS CHANGE
Civilisation has operated in two ways - To make one part of society more affluent and the other more wretched than would have been the lot of either in a natural state
There are Natural Rights and Civil Rights. Life, Liberty and the Pursuit of Happiness
Where Our Power to Execute Our Natural Rights is Perfect, Government has No Legitimate Jurisdiction
When the Forces for War are Greater than the Forces for Peace   Then the World is in Danger
Politics is not a Dirty Word. It is a Way of Life. How is Your Way of Life Today ?
charity shop

CUTTING VAT FROM 5% to ZERO FOR ENERGY AND WATER WILL NOT BE NOTICED AND CUTTING VAT FROM 20% TO ZERO DOES NOT ADDED UP IF MONEY IS SCARCE IN A CHARITY SHOP ECONOMY BUT SLASHING VAT ON THE SERVICE INDUSTRY MIGHT BE NOTICED

charity shop

Finance Minister Sunak plans emergency cut in value-added tax – The Times

JUNE 21, 2020 / 1:30 AM / UPDATED AN HOUR AGO

 

 

(Reuters) – British Finance Minister Rishi Sunak is ready to cut the value-added tax (VAT) as part of the government’s latest efforts to tackle economic fallout from the coronavirus outbreak, the Sunday Times newspaper reported.

Sunak has ordered officials to prepare options for reducing the sales tax, including a cut in the headline rate, and zero rating more products for a fixed period, the newspaper reported. (bit.ly/2Ym7T8y)

The finance minister may announce lowering the VAT and business rates in a speech in early July, the report added, citing officials.

Britain temporarily cut its value-added tax in 2008 during the global financial crisis, and Germany will do the same from July 1 for six months.

Sunak earlier suggested he was open to the idea but would first need to see how quickly consumers resumed spending.

Reporting by Kanishka Singh in Bengaluru; Editing by Tom Brown

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