November 26, 2008
VAT will have no impact
Story link: VAT will have no impact
This is so true, the VAT cut really will not make to much difference, except bump starting deflation. Shops are already knocking 40%+ off selected items, so why would you go to the 2.5% off section?
Chancellor Alistair Darling’s 2.5% cut in VAT aims to kick-start the economy by getting Britain spending, but shoppers at Europe’s biggest urban retail outlet remain unconvinced.
People at newly-opened Westfield in west London gave a lukewarm reaction to the reduction to 15%, with some calling it “vote manure” and “misguided”.