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Proceeding contribution from David Heath (Liberal Democrat) in the House of Commons on Monday, 24 November 2008. It occurred during Ministerial statement on Pre-Budget Report.

Pre-Budget Report

The Chancellor appears to have completely abandoned the normal purdah before budgetary announcements with the result that the VAT cut was the least unexpected announcement almost ever. But, if the purpose of the VAT cut was to put more money into the pockets of less well-off people, would not a targeted cut in income tax have done it better? If the purpose is to stimulate spending in our high streets, how is a 2.5 per cent. VAT cut going to work when 20 per cent. to 25 per cent. discounting in all major stores is not?

Secondary information

Type
Proceeding contribution
Reference
483 c519 
Session
2007-08
Chamber / Committee
House of Commons chamber
Subjects
Business Corporation tax Banks Credit Investment Financial institutions Financial markets Government shareholding Economic situation Inflation Forecasts National income Public sector National insurance contributions Small businesses Tax allowances Taxation VAT Tax rates and bands Stock market World economy Pre-Budget report 2008
Link
View this Proceeding contribution on www.publications.parliament.uk