Posted by
Defend America on Saturday, February 13, 2010 11:26:30 AM
New tax bombshell: 20% VAT
Roland Watson, Suzy Jagger and Rachel Sylvester
A rise in VAT is looming whichever party wins the general election, as Labour
and the Conservatives draw up plans to balance Britain’s books.
Alistair Darling and George Osborne, the Shadow Chancellor, are both
considering raising VAT to as high as 20 per cent — the European average —
from the current rate of 17.5 per cent, The Times has learnt.
Doing so would raise an extra £13 billion a year at a time when financial
markets are searching for signs that whoever takes power is serious about
tackling Britain’s £178 billion deficit.
http://www.timesonline.co.uk/tol/news/politics/article7025833.ece