I agree with this, I think certainly in the short term, a reduction in VAT is the most beneficial direction of travel. The only question is whether, in their desperate straits, companies would pass on the price reductions to the consumer. I know we are going to be painfully hard hit for a long time to pay for this, but I would be desperately disappointed if they hike up VAT, given how regressive a tax it is.
Think almost guaranteed self employed paid through dividends will be targeted. Rishi as good as said it.
Watching Question Time and interested in former Chancellor George Osborne's view on the financial aftermath of Covid 19. He predicts rises in most of the existing taxes and that like the time he was in the Cabinet, we will have to tighten our belts, although he qualified that by saying that we would be through the worst quicker than last time. I recall that when the crash occurred , the Tories blamed Labour for leaving them with no money, so it was very honest of him tonight when he said that the recession and our fiscal downturn was due to the financial crisis that affected countries across the entire globe.
It took him long enough to say it was a flab also crash rather than Labour’s fault! Pity he wasn’t honest at the time ... or rather ... pity he was such a bloody liar at the time!
Will probably already be out of business, so good luck to him. I've declared all my income, I've always left my accounts to my accountant. I'm a DJ.
Same here, I pay people like Accountants, Mechanic etc to manage that side of my business as they are experts not me.
