Adebayor's started so well for Man City
Tax: VAT down and taxing the rich
Morning. So a 2 and a half per cent cut in VAT and a plan to tax the rich at 45 per cent: just two of the proposals expected to be announced by the Chancellor in his mini-budget this afternoon.
The temporary reduction in VAT will mean 11p off a packet of 20 cigarettes, 353 quid off a new Ford Focus car, 31p off a 5.99 bottle of wine.
Is it enough to get you spending in the shops? And will THAT be enough to make the recession less vicious? That's what the government hopes anyway.
Plus if you earn £150,000 or more you're likely to be taxed at 45 per cent if Labour win the next election. What effect will that have on you?
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