Theres a report out that suggests that we could raise VAT, to get more tax, which would be nice. Or at least it would be if
a) all goods were price inelastic and demand for them didnt go through the floor
b) we werent already flatlining on sales and domestic demand.
But what do i know….
Most seems to focus on the zero rated and VAT exempt categories. Although there is no breakdown on the CSO database of these precise categories, the picture below covers most of these (but not 100% accurate – Books at 0% are lumped in with newspapers which are standard rated).
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