VAT Debate Could Have Implications For Printer Ink Cartridges
Small and medium-sized business owners looking to keep the costs of running their offices down may be interested to hear that a debate between two political parties in the running for government over VAT rises has been sparked.
The debate centres around potential rises in VAT, and the Liberal Democrat party has suggested that if voted into power a Labour or Conservative government would rise VAT, and therefore increasing the cost of everyday goods such as ink cartridges.
Its leader, Nick Clegg, said that to make good on election promises the Conservative Party will be rising VAT by three per cent at a cost of £389 on the average household.
Mr Clegg added: "Liberal Democrats have costed, in full, our proposals for tax cuts. We can tell you, penny for penny, pound for pound, who pays for them. We will not have to raise VAT to deliver our promises."
The current rate of VAT in the UK stands at 17.5 per cent.
By Mervyn Warren