With the National debt at £1.7 trillion and rising, the NHS and other public services under pressure, longevity etc, surely we must face higher taxation? Labour promise more spending via borrowing, the Torys talk of efficiency savings, but no one seems to state the obvious- higher tax and NI. The Brexit savings are far away and illusory so something must be done, surely?
Having worked with both, I would say that VAT is infinitely simpler to operate.
VAT does not have to be universal, for example, there is no VAT on basic Foodstuffs.
John, for example, it can be levied at a higher rate on luxury goods, for example, Vehicles with an engine capacity of over 1.5. litres could have VAT at 25%, those over a litre at 20% and those below a litre could be 10%. Or it could be levied on a basis of the vehicles BHP
Yes, but the situation is dire. They could blame the need for NHS increases, and with Labour at about 25% in the polls there may not be a better time to do it. No one wants tax rises but we can't go on saddling our grandchildren with our debts