Proceeding contribution from Philip Dunne (Conservative) in the House of Commons on Wednesday, 26 November 2008. It occurred during Emergency debate on Pre-Budget Report.
Pre-Budget Report
On the subject of the so-called VAT reduction, is my hon. Friend aware that, far from reducing the VAT bills of small retailers and businesses with turnovers of less than £200,000—businesses that pay under the flat-rate VAT scheme—the Government are actually increasing those bills, by not reflecting the adjustment correctly to take into account the reduced VAT input tax? The margins of many thousands of businesses will be reduced as a result of this so-called tax cut.
Secondary information
- Type
- Proceeding contribution
- Reference
- 483 c746
- Session
- 2007-08
- Chamber / Committee
- House of Commons chamber
- Subjects
- Bank services Banks Credit Budgets Borrowing Investment Financial markets Economic situation Guarantees National income National insurance contributions Public expenditure Loans Public sector debt Taxation VAT World economy Pre-Budget report 2008
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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