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18 Apr 20
06:50
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23 Jan 10
Imaging a huge hike in VAT will be announced at some stage. 40% likely? 
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Well that will be a great way to kickstart the economy, and save businesses, as nobody is going to buy anything!
That except for petrol and diesel, which is always an easy budget balancer.
Many will consider getting an electric car instead, until they realise they will be clobbered with extra vat on their purchase!
Not only that, but used vehicle prices will take another hit.
There will be more fuel thefts, and many will fail to have their vehicles serviced on schedule.
New car sales will take another hit, and expect to see dealerships having fewer staff, and some failing completely.
Expect to see more 'flagship stores' such as Debenhams, and John Lewis closing, and what's left of the high street decimated!
It would be vastly better, all round, for VAT to be cut to 17.5%, whereby businesses would immediately prosper from increased sales,
and The Treasury would still benefit from increased volume!
Add to that, the possibility of reduced business rates, and everyone would benefit.
That except for petrol and diesel, which is always an easy budget balancer.
Many will consider getting an electric car instead, until they realise they will be clobbered with extra vat on their purchase!
Not only that, but used vehicle prices will take another hit.
There will be more fuel thefts, and many will fail to have their vehicles serviced on schedule.
New car sales will take another hit, and expect to see dealerships having fewer staff, and some failing completely.
Expect to see more 'flagship stores' such as Debenhams, and John Lewis closing, and what's left of the high street decimated!
It would be vastly better, all round, for VAT to be cut to 17.5%, whereby businesses would immediately prosper from increased sales,
and The Treasury would still benefit from increased volume!
Add to that, the possibility of reduced business rates, and everyone would benefit.
A cut rather than a rise to boost spending is the likely scenario
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