Following on from the pre-budget report, VAT has been reduced to 15% a 2.5% drop from the previous 17.5% level. This is part of Brown’s financial stimulus package aimed to encourage shoppers to keep spending. It’s not Dig for Victory any more, more like Spend for Victory. Do the patriotic thing and buy something today and make the most of the cheaper prices.
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[...] Christmas. As part of the financial stimulus package, Gordon Brown announced that there would be a reduction in VAT from 17.5% to a historic low of 15%, cutting prices across the board. Even before December the 1st, [...]