Image via WikipediaAs widely predicted by several sources over the weekend, Chancellor Alistair Darling announced this afternoon at 1530GMT that from Monday December 3 - VAT would be cut from 17.5 per cent to 15 per cent.The cut will last for 13 months and will be the equivalent to the Government returning £12.5billion to UK taxpayers. I really don't understand the politics in this country, rarely does it seem that they are acting with the best interests of the country.
Listening whilst at work I felt the same as the politicians who jeered as the Chancellor detailed his pre-Budget plans. Also announced was that the tax rate for those earning more than £150,000 will increase to 45 percent. Just like Robin Hood it would have been more appropriate had he been dressed in a green outfit and attempting to fire arrows into a target and failing. Although the measures announced by Darling will inject £20billion I am concerned about the road ahead, more than ever!!
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