Sentences with phrase «cut in vat»

In advance of the Budget, the opposition called for a cut in VAT and a one - off tax on bankers» bonuses to fund youth job schemes and affordable house building.

Christmas shopping will be cheaper this year thanks to a temporary 2.5 % cut in VAT announced in the Pre-Budget Report, but purchasers of alcohol, cigarettes and fuel will not share in the savings.

Perhaps a cut in VAT for small businesses?

Pressure was growing on Gordon Brown to reverse the 2.5 per cent cut in VAT, which will cost # 12.5 billion, and use the money to cut income tax or national insurance.

A cut in VAT will support legitimate tradesmen and prevent an informal cash economy from flourishing.

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.

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.

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.

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.

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.

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.

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.

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.

The Danish Prime Minister Helle Throning - Schmidt got her $ 134 - million rebate, the Netherlands will maintain its 1 billion euro discount through some changes in the arrangements through which it collects EU VAT for Brussels, and David Cameron can go home with the message that the current deal would amount to a budget cut of 34.4 billion Euros over the next seven years.

His blushing beau hastily abandoned vows to fight early spending cuts, a VAT hike and tuition fee rises in his rush to make the match work.

Research, commissioned by the FMB, shows that cutting VAT from 20 % to five per cent for all housing repair, maintenance and improvement work would provide a total economic stimulus in the region of # 1.7 billion in 2012 alone, rising to over # 20 billion by 2020.

VAT rise, Academies, cuts in benefits, «big society», denationalisation of health... try as I might I can't find any of that in the Lib Dem manifesto.

The overhaul of the pension system — along with unpopular tax measures and an increase in VAT — form the central plank of a $ 5.4 bn package of budget cuts and reforms that Tsipras has agreed to enact in exchange for rescue funds from a third, $ 86bn bailout the country signed up to last summer.

In his first Budget Geoffrey Howe raised VAT and cut income tax, and during the deep recession of 1981 he cut government expenditure.

«Raising VAT was a political choice arising from the Conservative - led government's decision to cut the deficit deeper and faster than any other major economy in the world.»

There are good and bad things in that plan (for example, what is the point of cutting VAT on Ferraris?)

A rise in National Insurance contributions may not be popular but it is necessary — unless a hefty Vat rise is to be put in its place or even bigger swingeing cuts of public services.»

My first reaction was that Labour would have failed in its political duty if it had not brought the Lib Dems» broken promises on tuition fees, VAT, cuts and child benefit to the attention of Kentish Town residents.

He slashed the top rate from 83p in the pound to 60p, cut the standard rate by 3p and raised thresholds, covering much of the cost by raising VAT.

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.

His call for a temporary cut in the rate of VAT represents, to his mind, a halfway house between Osborne's deficit reduction plan and Alistair Darling's proposal to halve the deficit over four years.

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.»

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.

FSB's director general Richard Diment said VAT should be cut to five per cent for property refurbishment in a bid to create extra demand for energy efficient improvements.

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.

«As well as helping to cut carbon emissions, every panel that is installed brings in VAT for the government and every company that benefits from the support is keeping people in work.»

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

«I think that what people have been talking about is really Nick Clegg and the activities of Lib Dem MPs and it is a fact that they will vote for a rise in VAT and they are supporting the Tory cuts.

«Instead of investing in our future, millionaire ministers have put up VAT and are cutting jobs and pay and threatening to raid the pensions of hard - pressed public servants, and all the while food and fuel prices continue to soar.

Osborne cut 1p from fuel duty in the March 2011 budget, but the total tax take, including VAT, accounts for around 60 % of the average 133.25 p price of a litre of unleaded petrol.

Just in time for the VAT rises and cuts to be noticed.

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

«I think risking the recovery with immediate public spending cuts and a raise in VAT is economically misguided,» he says, summing up his argument.

«It has added to this pressure on family budgets, with cuts to tax credits, a freeze in child benefit and a VAT hike,» he added.

The combination of a sharp and unfair rise in VAT, the callous freezing of child benefit and the deepest cuts our public services have ever seen will be a hammer - blow to lower and middle income families.

Throughout 2008, a number of fiscal measures — including a # 145 tax cut for basic rate (below # 34,800 pa earnings) tax payers, a temporary 2.5 % cut in Value Added Tax (VAT), # 3 billion worth of spending brought forward from 2010 and a # 20 billion Small Enterprise Loan Guarantee Scheme — were introduced.

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.

The shadow chancellor, Alan Johnson, urges an 11th hour rethink of Tuesday's planned VAT rise in a letter to the government today, as theConfederation of British Industry (CBI) warned public spending cuts could lead to a dramatic slowdown in the pace of economic recovery.

28 per cent - the new rate of capital gains tax for higher rate tax payers 25 per cent - budget cuts facing most government departments 20 per cent - the new VAT rate from 4 January 2011 14 times George Osborne said the word word cut in his budget speech

Liberal Democrats under VAT fire In an article for Channel 4 News UNISON general secretary, Dave Prentis, said the VAT rise, along with the changes in the public sector would mean a «cut in living standards for millions of ordinary workers and their families.&raquIn an article for Channel 4 News UNISON general secretary, Dave Prentis, said the VAT rise, along with the changes in the public sector would mean a «cut in living standards for millions of ordinary workers and their families.&raquin the public sector would mean a «cut in living standards for millions of ordinary workers and their families.&raquin living standards for millions of ordinary workers and their families.»

From tax increases, to public sector spending cuts, to an increase in VAT, this is a budget that will be felt by all: rich and poor, individuals and businesses.

Culture Secretary Andy Burnham said the government had acted to cut VAT, bring forward investment in schools, GP surgeries and infrastructure and increase child benefit.