Sentences with phrase «vat cut»

Sir John said that the Government was right to recapitalise the banks but declared the VAT cut pointless - «you might as well have burned the money and thrown it away» - and said that he believed savers were currently «appallingly treated» because the amount they are earning in interest has dropped dramatically.

Alistair Darling had promised «help to every household» - and that's what his VAT cut did.

Though the VAT cut may ease the climate of fear when fear itself is the risk.

If Ed Balls concentrated his VAT cut on the regions that are not getting a house building boost, then he'd probably be able to double the size of the VAT cut.

25 per cent thought measures including the VAT cut and loan guarantees to banks would help and were worth the money 64 per cent thought the government's measures weren't worth the money the government is spending on them.

Speaking to Conservative activists in Wales, George Osborne has said that his decision to oppose Alistair Darling's VAT cut was the toughest call of his time as Shadow Chancellor.

No EU government is following his VAT cut.

Meanwhile, retailers are up in arms about the huge costs and logistical nightmare imposed by the temporary VAT cut.

He again calls for Brown to accept the VAT cut failed.

Darling made his insanely optimistic forecast on the basis of the VAT cut.

This week he made a huge announcement on a massive VAT cut, and yet...»

We have put forward a 5 point plan to get demand and growth back into our economy — including tax breaks for small businesses taking on extra workers, a temporary VAT cut, and a tax on bank bonuses to fund 100,000 jobs for young people.

Gordon Brown blamed bad weather in January and the end of the VAT cut.

A targeted VAT cut and a National Insurance Contributions (NICs) holiday must be introduced for small firms as small business confidence fell to -9.3 due to the pressure of weak demand and rising costs, according to the Federation of Small Businesses (FSB) «Voice of Small Business» Index.

He defends the VAT cut, which has come in for considerable criticism, although that's not at all universal - a surprising number of economists think it's the only successful thing the government has done, but their voices are usually drowned out.

Greenpeace's executive director John Sauven said the government should abandon the «unfocussed» VAT cut from 17.5 per cent to 15 per cent completely.

He calls on Harman to admit the VAT cut to 15 per cent was a wrong answer to the government.

Consumer demand is also a large barrier to economic growth and so the FSB has called for a targeted and time specific VAT cut to encourage people to spend in these areas.

Vince Cable, the Liberal Democrats» Treasury spokesman, said: «What we really need is permanent, fully funded tax cuts targeted at those on low and average incomes, through reductions in income tax, rather than giving a temporary VAT cut, which will primarily reward the big spenders who have loads of money.»

From Brown's brain activity flat - lining futility of the 2.5 % VAT cut to the inexorable approach of societal apocalypse.

Yesterday's pre-budget report announced big tax giveaways - the largest being a temporary VAT cut, costing # 12.4 bn - paid for, in part, by spending cuts and increased taxation in the future.

That's why, when it came to that big decision to oppose the VAT cut and the so - called fiscal stimulus, I didn't consult a focus group or an opinion poll I just knew it was the right thing to do.

Darling reminds MPs about the VAT cut.

12:10 - Cameron says the VAT cut was pointless, and the government should have concentrated on underwriting lending to businesses instead.

That is why Labour believes it makes sense to act now with a temporary VAT cut and investment in jobs and growth to save ourselves from the future bills of failure.

The question is not how much it will cost George Osborne to pay for a temporary VAT cut, but how much it will cost our country if he carries on regardless, with an economic plan that is just not working.

Labour want a VAT cut and the Tories are seeking sweeping reductions.

He told the BBC: «We would not waste # 12.5 billion on the VAT cut which the prime minister has delivered, which we don't think makes much difference.

Today, with growth prospects still very uncertain and interest rates too low to be of use, a temporary VAT cut now is still the right prescription before extra capital spending can come on stream — although any immediate tax cut which helps middle and lower income families is better than nothing.

Over the past two years, when the economy was totally stagnant, and when our economy has needed a quick and fast - acting shot in the arm, we have advocated a temporary VAT cut — alongside infrastructure spending, action on youth unemployment and targeted tax measures for business as part of our five point plan for growth.

Not exact matches

Controversial reforms Greece promised to pass into law by Wednesday include reforming the VAT system, overhauling pensions and signing up to plans that ensure immediate spending cuts in the event of breaching creditor - mandated budget targets.

Portugal has addressed its public debt problem — the deficit was 9.3 % of GDP in 2009 — with a 5 % pay cut for public sector workers earning more than $ 1,500 a month and an increase in VAT.

According to UK media reports, large confectionery manufacturers are cutting the size of chocolate bars to preserve profits in the face of the UK VAT increase and high ingredients costs.

A 5» infeed chute positions the foot for precise cutting, while a 3» discharge chute safely and easily moves cut feet onto a conveyor or into a vat.

The leader of the Liberal Democrats said the cut in the rate of VAT to 15 per cent, which cost taxpayers # 12.5 billion, should have been used to fund a green investment programme instead.

The question of whether we should cut VAT must therefore not be dismissed as a dry, academic debate.

Cutting VAT now would put more cash directly into people's pockets.

Taking the next scenario — that the government will re-allocate resources within the limitations of its current spending envelope — cutting VAT would not be the best use of funds.

To cut VAT as the centre piece of a new approach to deficit reduction would send the message that the UK has a lack of confidence in its own growth prospects and that a capacity to flip - flop on economic policy exists.

The chancellor needs to cut VAT immediately.

A cut to the standard rate of VAT would require either a departure from the government's deficit reduction programme or a shifting of priorities within the spending envelope that it has set itself.

When the last Labour government temporarily cut VAT to 15 per cent for 13 months, George Osborne dismissed it, saying people wouldn't even notice.

He claimed that rising VAT, alongside accelerated spending cuts, would boost confidence, secure recovery and get the deficit down.

Factors like the VAT increase and tax credit cuts will add 460,000 more children under the minimum standard for income in two years, the report claimed.

«If a corporation tax rate cut worked, that would mean more companies choosing to locate themselves in Northern Ireland, generating more income tax, national insurance, business rates and VAT.

«Rather than targeting tax cuts at millionaires, cutting VAT would benefit everyone and help poorer households far more than raising the personal allowance.»

[132] Together with Shadow Chancellor Ed Balls, Miliband also promoted a «five - point plan for jobs and growth» aimed at helping the UK economy, involving extending the bonus tax on banks pioneered by Alistair Darling, bringing forward planned long - term investment to help reduce unemployment, cutting the rate of VAT from 20 % back to 17.5 %, cutting VAT on home improvements to 5 % for a temporary one - year period, and instigating a one - year National Insurance break to encourage employers to hire more staff.

Cutting services for the vulnerable or raising VAT simply to hand the wealthiest a # 700 tax cut would be nothing less than a scandal.

Now is the time for a targeted cut in VAT to help rescue the economy, make vital repairs more affordable and to protect consumers and legitimate businesses.

The Conservatives have seen a double - digit lead over Labour in the polls being dramatically cut since the bailout of banks by the government in October, the announcement of a # 20 billion fiscal stimulus by the prime minister and a 2.5 per cent cut in the rate of VAT.