A simple vote: given the choice, would you keep this VAT reduction?

[DuaneJackson]

There's lots of discussion raging on the forums about VAT decreasing to 15% and ther various hassles, pros and cons involved.

Thsi thread isn't to debate it - but just to get a simple overview of opinion.

The question is:

If it was up to you whether or not we had this cut from 17.5% to 15% or not would you have it? No option to have another alternative cut on a different tax or a bigger cut in VAT.

So Alistair Darling phones you up for a bit of advice the night before the Pre Budget Report and asks you "Should I decrease VAT to 15% or leave it as it is?"

[sysops]

I voted yes, but for a silly reason - I find 15% more aesthetically pleasing; I've never liked 17.5%

However, I'm actually pro higher VAT - 20% VAT and lower income tax and NI would be better.

[DuaneJackson]

5 each way - decisive bunch aren't we!

[sysops]

And then there's the nostalgia value - 15% takes me back to being at school...

[sandiep]

I supply to end customers who cannot recover the VAT. So any cut in VAT makes the cash out of their pocket less, and the chances of getting the business just a little bit higher.

I think that as a forum for business people, this simple reality has got lost. I don't remember many people running around in 1991 going "whopee, a VAT increase, that's going to get me loads more customers!".

(Also, 15% is a lot easier to work out on the spot in your head than 17.5%)

[wood1e2]

As with every survey the question leads the answer, I voted keep VAT at 17.50% but I may have voted lower to 15% if it was with other alternative measures.

[CKG]

Imagine how many man hours it's going to take to change all the supermarket and shop prices in the UK. It will probably mean overtime and more tax paid by the workers changing the prices.

What they give with one hand they always take with the other.

[sandiep]

Originally Posted by CKG

Imagine how many man hours it's going to take to change all the supermarket and shop prices in the UK. It will probably mean overtime and more tax paid by the workers changing the prices.

What they give with one hand they always take with the other.

It won't take that long. Most of the supermarkets can probably implement it in a matter of hours.

[DuaneJackson]

Originally Posted by DuaneJackson

Thsi thread isn't to debate it - but just to get a simple overview of opinion.

*sigh*, I give up!

Atleast all the posts are keeping it towards the top of the "New Posts" list

[Dominic Taylor]

15% is easier to work out quickly though only by one operation...I'd probably keep it that way as it reduces the extra tax our customers pay to us - though they may pay higher income tax to fund it, it still 'feels' nicer the less 'extra' tax you pay to someone!