First fuel prices, now VAT?!

[Mart]

http://news.bbc.co.uk/1/hi/uk_politics/7744273.stm

Surely not?!

[Ashy]

Gona be paying super tax once we clear this recession tho!!

[Mart]

And I bet the shops don't pass on that 2.5% (if that's what it is) cut, meaning we'll still be paying the same as we are now, and they'll be making 2.5% more profit.

You never know though...

[Andrew Cooke]

And I bet the shops don't pass on that 2.5% (if that's what it is) cut, meaning we'll still be paying the same as we are now, and they'll be making 2.5% more profit.

You never know though...

that'll be just over 2% off the price, not gonna take much off the 25% that the currency has slipped.

[Guybrush]

They've got it wrong.... damn government trying to encourage spending
they should really be cutting income tax and raising vat, so you get taxed on what you buy and not what you earn.

[Maka]

They've got it wrong.... damn government trying to encourage spending
they should really be cutting income tax and raising vat, so you get taxed on what you buy and not what you earn.

VAT is a regressive tax and only hurts those on low income.
income tax is based on earnings so is more friendly to the working class.

majority of people and the harder working in most cases are in the working class so would in theory make up the bulk of consumers etc.

britain should really cash in on its remaining oil deposits and stop giving it away to america for f**k all, then reinvest that profit into this economy.
why should we let our government deplete our countries resources and ship it out for cheap rates when we have to pay full, if not inflated prices for it.
Its our oil ffs.

russia and saudi invest their oil profits into their lands, fair enough russia is a bit more corrupt than saudi. But then we would be fools to claim britains government isnt as corrupt behind the scenes.

rant over.

[Guybrush]

VAT is a regressive tax and only hurts those on low income.
income tax is based on earnings so is more friendly to the working class.

majority of people and the harder working in most cases are in the working class so would in theory make up the bulk of consumers etc.

britain should really cash in on its remaining oil deposits and stop giving it away to america for f**k all, then reinvest that profit into this economy.
why should we let our government deplete our countries resources and ship it out for cheap rates when we have to pay full, if not inflated prices for it.
Its our oil ffs.

russia and saudi invest their oil profits into their lands, fair enough russia is a bit more corrupt than saudi. But then we would be fools to claim britains government isnt as corrupt behind the scenes.

rant over.

Hang on, isn't it the other way around... you pay VAT on what you buy. Only luxury foods are applicable for VAT, you'll pay more VAT the more you buy... You don't pay VAT on your mortgage, so surely cutting income tax and raising VAT is to the benefit of the working class.

I can see how it'd screw up all the skanks on benefits, but hey... if you don't work

[Big Steve - Raider]

Will the last bloke out the country turn the lights off

[Alastair]

For nearly a decade Gordon Brown has been borrowing from tomorrow to pay for today. You'd have thought he would have learned his lesson well by now.

Also interesting that over the lasty decade the Labour cabinet has almoset no-one with immediate family in the armed forces either.

Even more interesting is that we the public have tolerated this without so much as a whisper of discontent apart from when Mr Brown backed out of a GE that he was about to lose...

[Maka]

Hang on, isn't it the other way around... you pay VAT on what you buy. Only luxury foods are applicable for VAT, you'll pay more VAT the more you buy... You don't pay VAT on your mortgage, so surely cutting income tax and raising VAT is to the benefit of the working class.

I can see how it'd screw up all the skanks on benefits, but hey... if you don't work

vat is regressive
your taxed on what you buy

if a toff buys a marsbars he pays the same amount of vat as a working class individual.

income tax is or should be progressive. you pay more the more you earn.

the luxury food VAT was just a ploy to soften the regressive crys when vat lurched from 8% or however low it was many millenia ago!

Doesnt matter how much they cut income tax or cut/raise vat, your still going to strugle to get a mortgage because the banks are on lock down. There own fault for being greedy.

Simple really...you put a £1000 on a credit card then every 12 months swap it onto a interest free transfer deal. Sooner or later you run out of options. This is the issue with the banks, to busy borrowing against each other to the point a few got to greedy and ran out of places to borrow.
Rest of the banks fall to sh*t and take the world economy with it.

One of the big reasons oil is not as highly demanded is china.
Only half a year ago oil shot up in price due to mass demand for diesel in china after the huge earth quake.
Half the country was powered by diesel generators and the clearing work required a heafty fuel bill.
Most of the works done there now and so oil restabalises to its previous demand levels.
In the mean time credit crunch goes full swing.


anyway...back to the crunch...Vat hurts the poor more than the rich, as we all pay the same flat rate.

[Maka]

For nearly a decade Gordon Brown has been borrowing from tomorrow to pay for today. You'd have thought he would have learned his lesson well by now.

Also interesting that over the lasty decade the Labour cabinet has almoset no-one with immediate family in the armed forces either.

Even more interesting is that we the public have tolerated this without so much as a whisper of discontent apart from when Mr Brown backed out of a GE that he was about to lose...

well the general public did vote labour!

we cant all sit there and blame the government can we all the time.
we have to take some responsibilities for our silly choices.

we need a more powerfull monarchy if you ask me, but not that wet willy charles.

[clee]

With the present high street crisis meaning anything from 10 to 50% discounts, VAT don't mean diddly .....It's a ploy as is the leaked higher earnings tax hike.... retro Labour and not a very good attempt .
As for a more powerful Monarchy
I quite enjoyed Old Branagh's Henry V at the weekend though Men in England still abed ???

[Maka]

With the present high street crisis meaning anything from 10 to 50% discounts, VAT don't mean diddly .....It's a ploy as is the leaked higher earnings tax hike.... retro Labour and not a very good attempt .
As for a more powerful Monarchy
I quite enjoyed Old Branagh's Henry V at the weekend though Men in England still abed ???

i watched that also but it turned my head inside out and i sh*t on the carpet.
i hate shakespeare with a passion. The Fluffy git.

reducing vat wont mean jack, like you say what with the crazy high street discounts currently.
But it will help with dropping petrol even more for the petrol head in you!

[clee]

To be honest I never look at petrol prices. Both I and the missus work from home so we only fill-em up for pleasure .As such we do a shed load for the planet and should therefore be exempt from all road tax

[Gttnutter]

I can see fuel prices rising soon

[Maka]

I can see fuel prices rising soon

That would be a little wierd if they did go up as demand is going to fall over the next few months.
war efforts slowing down, plus winter puts a hamer on most campaigns.
Not been any huge disasters of late, except for a madras i ate the other night.
Americas economy is slowing down even more so oils demand will fall that little bit more yet.

but then economic theory, fiscal policy and predicting trends and forecasting is all out the window currently.