Alistair Darling is to announce that VAT will fall from 17.5% to 15% in an attempt to boost the business until further notice. This decision which will cost £12bn. Hoping to have nice Christmas and to avoid further job losses from the retail market as currently 1000's of jobs in Woolworths are in trouble if it doesn’t find a prospective buyer..
It will be the first time that any government has cut VAT.
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