Quote:
Originally Posted by Bernard Dawson
Absoloutly right. VAT is a regressive tax which hits the poorest hardest.
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Certainly going to hit me Bernard. I know they are going to increase the personal allowance for income tax to £7,475 to soften the blow to the lower income earners. Saves them £170 .. but is overtaken by increase in VAT.
For me, as a pensioner over 65 .. the personal allowance is set at £9,450 anyway; this already covers no income tax being deducted from my state pension, however, now have small income and the 2.5% increase in VAT will certainly hit me and put lots of goods beyond my reach.
At least no rise on me fags, alcohol and fuel.
