Will VAT go up to 20%, 25%, other, or no change?

This is a discussion on Will VAT go up to 20%, 25%, other, or no change? within the Economic & Fundamental Analysis forums, part of the Methods category; Do we think that VAT will go up to: 1. 20% 2. 25% 3. Something else 4. No change? Personally ...

View Poll Results: Will VAT go up and to what level?
20% 6 60.00%
25% 1 10.00%
Something else 2 20.00%
No change 1 10.00%
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Old May 24, 2010, 11:03am   #1
 
montmorencyt2w's Avatar
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Will VAT go up to 20%, 25%, other, or no change?

Do we think that VAT will go up to:

1. 20%
2. 25%
3. Something else
4. No change?

Personally I think that a substantial increase will ultimately be self-defeating, not to mention socially unjust, but I have seen commentators saying that it is the only way Osborne will ever plug the gap. I can see that it would be superficially attractive.

My own view is that 20% is highly likely, and 25% by no means out of the question.
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Old May 24, 2010, 5:58pm   #2
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Re: Will VAT go up to 20%, 25%, other, or no change?

20% is highly likely in my view as well and would bring us in line with much of the EU.


Paul
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Old May 25, 2010, 12:57pm   #3
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Re: Will VAT go up to 20%, 25%, other, or no change?

All taxes should be 100 pct. That is how to put more money into the economy. Reducing taxes is taking money out of the economy.

I reckon 20 pct, anything higher would be daft.
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Old May 25, 2010, 3:40pm   #4
 
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Re: Will VAT go up to 20%, 25%, other, or no change?

montmorencyt2w started this thread I should have said, but the question was in the context of Osborne's first budget, or at least, say, in the first year of the coalition administration.

Yes, I think making it in line with the rest of Europe is likely (even if the Cons don't like Europe ... they can always blame Clegg ).

I'm surprised it's not getting more mainstream airing though. Perhaps everybody knows it's coming, so not "news".

Inevitable it may be but I don't think it's going to do the recovery any favours.
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Old Jun 15, 2010, 7:40pm   #5
 
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Re: Will VAT go up to 20%, 25%, other, or no change?

montmorencyt2w started this thread Well, I couldn't get anyone interested in this, but it seems someone thinks it might go straight to 25%:

http://www.telegraph.co.uk/finance/f...-hit-25pc.html

(As cited in Trade2Win's second-favourite comic, the Torygraph)

Of course it could be some deliberate kite-flying so that the actual increase to 20% doesn't sound too bad
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Old Jun 15, 2010, 7:44pm   #6
 
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Re: Will VAT go up to 20%, 25%, other, or no change?

might extend the range and put it on houses
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Old Jun 15, 2010, 10:45pm   #7
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Re: Will VAT go up to 20%, 25%, other, or no change?

Quote:
Well, I couldn't get anyone interested in this, but it seems someone thinks it might go straight to 25%:
This would be a serious error in my view as it would (as you have previously implied) be counter productive for business growth. As we have little in the way of manufacturing and no natural resource industries left, tax revenues are highly dependent on increasing consumerism. An increase in VAT to 25% would have the opposite effect on this in my view.


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Old Jun 16, 2010, 9:07am   #8
 
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Re: Will VAT go up to 20%, 25%, other, or no change?

montmorencyt2w started this thread
Quote:
Originally Posted by barjon View Post
might extend the range and put it on houses
and/or financial services, as I have seen suggested.
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