20% vat

[Margaret Pilkington]

Well, it is obvious that the poor are going to be more affected by paying VAT.......they have much less disposable income....but at least it isn't a tax that the rich can wriggle out of easily by paying an accountant to find the legal loopholes.

[***Mr D***]

Insurance doesnt have VAT - its IPT at 5% as from 04.01.11 that becomes 6%.

Increases everywhere.

[JCB]

Originally Posted by cmonstanley

who thinks 20% vat will harm the economy

The Labour government reduced vat for a period to help us get out of the mess .

The Con-Lib government are increasing it to help us get out of the mess .

[Gordon Booth]

Originally Posted by JCB

The Con-Lib government are increasing it to help us get out of the mess .

Be fair, on the date set by the Labour Government! They could say they're not putting it up,they're putting it back to where Labour had it. In fact they probably will.

[DaveinGermany]

Originally Posted by shakermaker

some people are fooled into thinking that this is a fair tax because everyone is subjected to VAT on items consumed.

Shaker it's not a matter of being fair It's a matter of it applying to everyone equally ! I understand the point you make, but it is irrelevant, if you & I were to go out to the Pub, then the Footie, then off for a bag of chips & we drank & ate the same we would both spend the same amount as we've both been taxed similarly. Now if you'd gone out with GBP 50 & I GBP 30, we both spend GBP25, your left with GBP 25 & me with GBP 5. That is just a fact of life (Some will always have more than others) But in relation to taxes we've both been equally affected.

So I'm sorry I can't agree with the logic of your comment although I do understand your premise.

[JCB]

Originally Posted by Gordon Booth

Be fair, on the date set by the Labour Government! They could say they're not putting it up,they're putting it back to where Labour had it. In fact they probably will.

The Labour government reduced vat from 17.5% to 15% for a few months .

The Con-Lib government are increasing it from 17.5% to 20% .

I'm criticising neither . I'm just totally confused about the economics of all parties , and to what extent their policies are effective in a global economy .

[walkinman221]

Originally Posted by JCB

The Labour government reduced vat from 17.5% to 15% for a few months .

The Con-Lib government are increasing it from 17.5% to 20% .

I'm criticising neither . I'm just totally confused about the economics of all parties , and to what extent their policies are effective in a global economy .

So are they

[JCB]

Originally Posted by walkinman221

So are they

True .

We can so easily be blown off course by events beyond our governments control .

I had money in the Anglo-Irish Bank . When things started to worsen in Ireland I decided to put it in the Abbey , but now they are the Spanish Santander .

[walkinman221]

Originally Posted by JCB

True .

We can so easily be blown off course by events beyond our governments control .

I had money in the Anglo-Irish Bank . When things started to worsen in Ireland I decided to put it in the Abbey , but now they are the Spanish Santander .

Yes and they have been busy lately sending everybodys details and bank statements to other people, have you checked yours lately?

[JCB]

Originally Posted by walkinman221

Yes and they have been busy lately sending everybodys details and bank statements to other people, have you checked yours lately?

Perhaps that's why I haven't had a statement on an investment for a long while .
I'll be down to see them this week .

Thanks .

[walkinman221]

Its in the paper they have sent statements to people with other peoples details in them and also the statements have been delayed because of some computer cock up

[entwisi]

Which is actually unlikely to be a Santander cock up actually. Most Banks outsource printing to secure specialist companies to do this sort of work. They provide datasets to be printed and to reduce risk they only have up to 35K in one set and the system is reset after that. From my "slightly" more informed position based on the rumours around it appears to be some cock up in how the dataset was interpreted but teh job reset at 35K stopped it being worse. At the end of the day its Santanders name on the top and its their contract/contractor that I would hope has some penalty clauses in there!

[walkinman221]

As you say Santanders name at the top their responsibility to make sure things are right,customer service, security and satisfaction should be THEIR priority its with them people have entrusted their money.

[BERNADETTE]

Originally Posted by entwisi

Which is actually unlikely to be a Santander cock up actually. Most Banks outsource printing to secure specialist companies to do this sort of work. They provide datasets to be printed and to reduce risk they only have up to 35K in one set and the system is reset after that. From my "slightly" more informed position based on the rumours around it appears to be some cock up in how the dataset was interpreted but teh job reset at 35K stopped it being worse. At the end of the day its Santanders name on the top and its their contract/contractor that I would hope has some penalty clauses in there!

OMG I can't believe I'm reading this, but hey it's a Santanders "cock up". Well who is to blame if "Santander" employ a company who is "not up to the job which they were employed for"??? Northern Rock springs to mind but by the by hope your investments are safe because you appear to have scant regard for how other folks will cope if their savings disappear down the same drain. Hope your investor is reset to retieve your investments because "penalty claues" or not no ones money is safe IMHO

[Neil]

Originally Posted by entwisi

Which is actually unlikely to be a Santander cock up actually. Most Banks outsource printing to secure specialist companies to do this sort of work.

So it is 100% Santander's fault. They should have there licence removed or whatever for a cock up like that.