number1kitty
Well-Known Member
lol I know, I just thought I best make it clearer before I get a hate campaign against me!!!
So how about starting our own political party??? lol!!
xxx
So how about starting our own political party??? lol!!
xxx
VAT Cut - Pre Budget Report it is good or a load of pants?
- Thread starter Hope
- Start date
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redsadie
Well-Known Member
:green: I think we'd have to be REALLY bad to do any worse than what we have at the moment! :lol:
VICKYBROOKES
Well-Known Member
Hiya geeks just to let you know that i work for a hair and beauty suplier and have been told that i am to change the till on sunday night to only add on 15% vat ready for the mon mornings trade , I think this is a good move but as said before its not gonna save a load off money but every little helps . I hope that many other supliers and retail shops wil do this to .
number1kitty
Well-Known Member
places that have to physically show the VAT charge on their reciept/Invoice will have to legally charge the new rate. However other shops that don't show this on the reciept are highly unlikely to change prices.
And lets not forget most products such as clothes, books and food are all vat free.
Kate
And lets not forget most products such as clothes, books and food are all vat free.
Kate
Blue Rose
Well-Known Member
It's not something I'm getting overly excited about.
A minor cut like this is hardly likely to get people out rushing to spend is it? The only saving I will make is a little bit on salon supplies but I'm not going to buy MORE because of the cut.
I am planning on having my kitchen extended in the spring, so I will now save a few pennies on that :green:. The builder has already been booked so again, the cut has not encouraged me to go & spend, as I was going to do that anyway.
Now, if the government wanted to help the consumer, why not cut back on things that people have voiced opinions on? Like petrol duty, stamp duty etc etc..
It makes you wonder though what the real cost of this cut is further down the line. Where is the government going to get their income from? Talking about robbing Peter to pay Paul.
A minor cut like this is hardly likely to get people out rushing to spend is it? The only saving I will make is a little bit on salon supplies but I'm not going to buy MORE because of the cut.
I am planning on having my kitchen extended in the spring, so I will now save a few pennies on that :green:. The builder has already been booked so again, the cut has not encouraged me to go & spend, as I was going to do that anyway.
Now, if the government wanted to help the consumer, why not cut back on things that people have voiced opinions on? Like petrol duty, stamp duty etc etc..
It makes you wonder though what the real cost of this cut is further down the line. Where is the government going to get their income from? Talking about robbing Peter to pay Paul.
number1kitty
Well-Known Member
The government shouldnt have stuck their nose in full stop. They should have let the banks fall and left people to lose their homes.
They should have instead brought companies back to britain and encourage new business's tax relief etc to offer more employment.
They should have then capped house prices for ten years, got rid of the stamp duty and offered interest free mortgages for first five years so people can gain equity.
The problem has always been and always will be the banks over inflating house prices and the general public paying crazy prices for bricks and morter.
Any home under the threat of repossesion should be purchased by the government off the bank for the cost of the mortgage and help to build up the social housing stock, which currently has a huge shortfall due to the right to buy.
Problem with this is the government will always need crisis's like this to make the public deem them important.
There are so many other solutions that the genral public with no degrees can come up with, but a highly qualiified spoon in mouth politician messes up time and time again!
With methods mentioned above the public would be far more confident to spend again. At the minute though everyone is watching every last penny. We food shop more wisely now, we shop around for energy savings, and we are not buying frivious things that will remain in our wardrobe tags still on and unworn!
How many times does alister darling need to be told this? I am seriously considering hibernating for a few years or moving abroad!!!
They should have instead brought companies back to britain and encourage new business's tax relief etc to offer more employment.
They should have then capped house prices for ten years, got rid of the stamp duty and offered interest free mortgages for first five years so people can gain equity.
The problem has always been and always will be the banks over inflating house prices and the general public paying crazy prices for bricks and morter.
Any home under the threat of repossesion should be purchased by the government off the bank for the cost of the mortgage and help to build up the social housing stock, which currently has a huge shortfall due to the right to buy.
Problem with this is the government will always need crisis's like this to make the public deem them important.
There are so many other solutions that the genral public with no degrees can come up with, but a highly qualiified spoon in mouth politician messes up time and time again!
With methods mentioned above the public would be far more confident to spend again. At the minute though everyone is watching every last penny. We food shop more wisely now, we shop around for energy savings, and we are not buying frivious things that will remain in our wardrobe tags still on and unworn!
How many times does alister darling need to be told this? I am seriously considering hibernating for a few years or moving abroad!!!
Hope
Well-Known Member
They did cut it on petrol and then merrily upped the price so that we don't make a saving!!!
Has anyone else read that when it goes back up they are planning on upping it to 18.5%........
This government are making huge mistakes IMHO that are going to ruin this country for years and years to come.
BTW for anyone who wants to read, here is a something about the retailers
Shops warn of struggle to deliver cut in time
By Elizabeth Rigby and Tom Braithwaite
Published: November 26 2008 02:00 | Last updated: November 26 2008 02:00
Retailers were frantically scrambling yesterday to work out if they could deliver the chancellor's cut in value added tax by Monday, with many complaining it was too big a task to complete in seven days.
Their concerns are so
pronounced that Sir Philip Green of Arcadia and Sir Stuart Rose of Marks & Spencer led a conference call of more than a dozen top retailers to discuss if they could deliver a co-ordinated cut in prices by Monday.
The decision by Alistair Darling to cut VAT from 17.5 per cent to 15 per cent from December 1 will reduce prices by 2.1 per cent on the shop floor and will be in force until the end of 2009.
Sir Stuart, the executive chairman of M&S, said the changes were difficult in categories such as children's wear, where VAT is added only to clothes for youngsters aged 14 and over, and food, where the levy is charged only on a few items, such as gift hampers.
The retailers have been trying to sort out the logistics of putting in place the change and a statement is expected today outlining exactly what sort of price cuts they can deliver and when. "Are retailers minded to pass it on? Absolutely," said Sir Stuart. "Is there a logistic nightmare? Yes. Will we get there by Monday? Probably."
But retailers were bemoaning the timing of the pre-Budget report decision. "Trying to help consumers is a good thing, but the timing of this is just awful," said a big clothing retailer. The cuts clash with one of the busiest periods in the retail calendar, coming around the time when most people receive their final pay cheque before Christmas.
Argos, one of biggest general merchandise retailers, said that while it intended to pass on the temporary cut in VAT it could not be sure of achieving it by Monday. It said: "This is a complex issue to manage properly at short notice and, while we will do everything we can to ensure that these changes are implemented within the government's time-frame, we cannot guarantee that all necessary changes will be in place by the Monday deadline."
Verdict, the retail consultancy, said the process was not as simple as introducing a blanket 2.5 percentage point reduction on every item carrying VAT. "With retailers wanting to maintain pricing practices such as price points ending in 99p or whole pounds, not all prices will change. The prices of the cheapest goods are least likely to be revised, with retailers making bigger adjustments to lines where they hope to secure competitive advantage," it said.
The VAT reduction may well be eclipsed in the minds of consumers should they compare it with the aggressive promotions being offered by retailers as they look to stimulate spending in the run-up to Christmas. Many have been cutting prices by 20 per cent in recent days, with M&S staging a "guerrilla" one-day sale last week.
I for one don't expect to get anything off in any of the shops, I think that they will pocket the difference.
RedAdmiral
Well-Known Member
Over here on the emrald isle VAT on purchases has gone up! I do blame alot on this on greed our greed and the governments greed. As we spend more and more on our credit cards and buying fancy cars and home furnishings on higher purchase the economy is totally false telling us we are richer than we are! House prices are way over the odds and they just kept building and building despite a slowing down of buying.
The bottom falls out of construction and now everyone has gone with it! I've previously envied all those people with fancy homes, cars and a killer wardrobe now I'm glad I didnt join them.
The bottom falls out of construction and now everyone has gone with it! I've previously envied all those people with fancy homes, cars and a killer wardrobe now I'm glad I didnt join them.
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