VAT cut to make food shopping cheaper

Jason Chapman

Did the food shopping today, I did not notice any difference with the cut in VAT. I think on a whole I saved about 50p, which is about the price of a bar of chocolate, if the government want to truly make a difference then VAT needs to go from 17.5% to at least 10% or even lower for people to notice.

CookieMonster

I think when you are only spending small amounts of cash then you don't really notice it,as i am hopefully moving house in the next couple of weeks i will actually notice the drop in VAT because paying solicitors fees,estate agents fees and mortgage fees adds up to quite a large sum of cash so i will save quite a considerable amount.But at the end of the day every penny saved in the current financial situation has got to be a good thing in my eyes

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If you can't stand the heat,get out of the kitchen

Ann

What is VAT?

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If it's not a great day, make it one! (Now if I'd only take my own advice!)

CookieMonster

VAT stands for Value Added Tax.

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If you can't stand the heat,get out of the kitchen

Ann

Thanks Cookie!

__________________
If it's not a great day, make it one! (Now if I'd only take my own advice!)

Ann

I think here it's called food tax. They have really kept it down in my county!

__________________
If it's not a great day, make it one! (Now if I'd only take my own advice!)

MJBIZ3

I agree, it's hardly made any difference to me whatsoever. There needs to be a much more drastic cut if the government want to encourage more consumer spending.

Jayne Richards

I completely agree. The VAT cost doesn't balance out the recent increase in food prices anyway. Tesco value crumpets are now 50p!

webwonder

We cut our prices by 15% but our suppliers put their prices up by up to 40% because we import from US and EU, the pound is so weak that anything from abroad is prohibitivly expensive, doesnt really make sense knocking 2.5% off the tax, should readjust the distribution of the tax and increase it for luxuries etc and reduce or abolish for necessities, common sense i would have thought?