August 26, 2009

That VAT Cut

Colour me unsurprised. Labour's big idea to save the economy by cutting VAT actually had no effect to boast spending, just as was predicted last year. Perhaps if they had cut the Job Tax (National Insurance) instead it would have actually done something by saving marginal jobs and so leading to a few less people on the dole, but then people on the dole have long been a natural source of Labour votes and they are going to need as many as they can get next year.


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