VAT - Just how stupid is this government?
Discussion
Not seen this anywhere, so apologies if a pea-roast.
So on New Year's Eve retailers will have to swap over all their pricing again, right in the middle of what should be one of their busiest times (and let's not forget that a lot have returned to their 17.5% levels anyway, so effectively inflation will go up by about 2%....
HOW USELESS CAN THESE DUMB
S ACTUALLY BE???
http://business.timesonline.co.uk/tol/business/ind...
So on New Year's Eve retailers will have to swap over all their pricing again, right in the middle of what should be one of their busiest times (and let's not forget that a lot have returned to their 17.5% levels anyway, so effectively inflation will go up by about 2%....
HOW USELESS CAN THESE DUMB
S ACTUALLY BE???http://business.timesonline.co.uk/tol/business/ind...
Yeah, us accountants knew they were going to do this as soon as they announced the 15% vat rate. and the general consensus was that it was useless lowering it anyway because most places would match the prices they had before the drop any way. Thus making alot more work for us at Vat quarter ends... booo lol
My guess is that after the election VAT will go up to 20% or so. Income tax will probably have to go up by a couple of percent too.
And lots of the population will believe it's "so unfair" and consider voting Labour again forgetting who it was that actually created the requirement.
Bah.
And lots of the population will believe it's "so unfair" and consider voting Labour again forgetting who it was that actually created the requirement.
Bah.
I'm all for the vat increase, hopefully inline with europe to 21%. Of course, this is just my own selfish view as it will increase our sales (no vat in channel islands) and make us more competitive. It won't help the UK though but hey, politicians don't give a toss about anything other than lining there own pockets so why should I be any different?
ACEparts_com said:
I'm all for the vat increase, hopefully inline with europe to 21%. Of course, this is just my own selfish view as it will increase our sales (no vat in channel islands) and make us more competitive. It won't help the UK though but hey, politicians don't give a toss about anything other than lining there own pockets so why should I be any different?
You only sell if people have money and are willing to spend, no matter how competitive you are.henrycrun said:
But didn't the Tories allow the Deregulation of the Banking Industry way back....
Which in essence was a good thing - we can all see what excessive legislation does to organisations - look at the NHS. Or Schools. Or the police.But it's every government's responsibility to keep a watchful eye out for practices which may harm the economy - it's called light-touch regulation and has become a dirty word, but it's essentially making sure the toddler doesn't eat too many sweets and telling it off when it does, while allowing it to grow and mature on it's own.
Unfortunately we've seen a government completely awestruck by the financial industry allowing it to gorge on sweets until it's sick.
henrycrun said:
But didn't the Tories allow the Deregulation of the Banking Industry way back....
There's quite a difference between light regulation/deregulation and bad regulation. Our regulatory failures came from the system introduced by Brown, which focussed on more box ticking and bureaucracy, rather than sensible, active monitoring and up-to-date knowledge of the products being used. Some warnings were ignored by the FSA, for instance, because they simply didn't understand what it was they were being shown. The Tory deregulation unarguably helped the city prosper and become the powerhouse it is today, without causing any trouble - you can take a step back from interfering if you at least understand what's going on, so can decide whether any further intervention is necessary to realign incentives etc (if and when it's needed). There's therefore no need for constant meddling and intervention, which simply stifles competitiveness and wealth creation.Edited by ZondaMan on Wednesday 17th June 22:24
eliot said:
And can we expect a reduction in duty on fuel & beer (and fags?) at the same time too?
Because you all remember/realise that the duty was increased by exactly the same amount that the VAT was descreased by.
This will be the absolute killer. A whack up in fuel duty and then another increase in VAT to 17.5% again will murder fuel prices. They're ramping up again already - petrol back over £1 a litre now and only more pain to come.Because you all remember/realise that the duty was increased by exactly the same amount that the VAT was descreased by.
Edited by eliot on Wednesday 17th June 20:46
Edited by Funk on Thursday 18th June 10:42
Funk said:
eliot said:
And can we expect a reduction in duty on fuel & beer (and fags?) at the same time too?
Because you all remember/realise that the duty was increased by exactly the same amount that the VAT was descreased by.
This will be the absolute killer. A whack up in fuel duty and then another increase in VAT to 17.5% again will murder fuel prices. They're ramping up again already - petrol back over £1 a litre now and only more pain to come.Because you all remember/realise that the duty was increased by exactly the same amount that the VAT was descreased by.
Edited by eliot on Wednesday 17th June 20:46
Edited by Funk on Thursday 18th June 10:42
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