Balls Calls for VAT Cut to Boost Consumer Spending

Data released today by the Office for National Statistics showed UK retail sales slumped during May. Including fuel, sales volumes fell by 1.4% last month, while excluding automotive fuel volumes decreased by 1.6%. George Osborne believes that lower tax economies are higher growth economies, he told us so many times in opposition. Just because Ed Balls advocates it today doesn’t automatically make it wrong to cut VAT. Balls is calling for a temporary suspension of the VAT hike to boost consumer spending and growth. Why not?




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Quote of the Day

Philip Hammond uses a trip to Berlin to mock the Foreign Secretary:

“A compromise is the art of dividing a cake in such a way that everyone believes he has the biggest piece. Wise words with some applicability to the Brexit negotiations although I try to discourage talk of “cake” amongst my colleagues.”

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