Swindon Chamber backs Chancellor (From Swindon Advertiser)
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Swindon Chamber backs Chancellor
4:39pm Monday 24th November 2008 in News By Leigh Robinson
The reduction in VAT from 17.5 per cent to 15 per cent has been welcomed by the president of Swindon’s Chamber of Commerce, Joanne Taylor-Stagg.
“Any relief at all is welcome,” she said. “You must remember that last week’s figures on the high street were not that bad and we hope that will continue in the light of the Chancellor’s announcement.
“We do need a stimulus in getting the economy going and we must make sure there is no more of this scaremongering. That does more harm to the economy than anything else.”
Ms Taylor-Stagg, who is the general manager of the Marriott Hotel in Swindon, said her hotel had lost 800 covers for Christmas parties this year.
“We have had had to take a hit this year because of the economy but you never know Mr Darling’s gift might encourage people to have more parties and spend more money.”
Will the cut in VAT encourage you to spend more money? Or if you're in business, do you think it will help improve matters for you? We want to know what you think. Have your say below or email the newsdesk and tell us how it will affect you.
Comments(10)
Bobfm
says...
5:00pm Mon 24 Nov 08
Why is it that 'trade bodies' always say those who are realists are scaremongering. S 21/2% cut in vat is in effect a 2%. Given that many High Street Retailers are already knocking off 20 to 30%, what a ridiculous idea that it will make one jot of a difference. Having listened to Alistair Darlings fantasy assessment of our prospects and his 'rescue' package, I am more than ever convinced should the city show positive gains Brown will call a snap election. Any one who falls for another Labour term is stark raving bonkers.
To answer the question will the VAT increase spending. No, people don't have any money to spend, even if the cut were 10%.
Compaq
says...
5:33pm Mon 24 Nov 08
Bobfm
says...
5:42pm Mon 24 Nov 08
malkym1
says...
6:22pm Mon 24 Nov 08
wisefool
says...
9:40pm Mon 24 Nov 08
They need food, shelter and domestic fuel none of which carry VAT at 17.5% so I don't see how this reduction is going to help. Most of my circle are NOT planning to raid savings and are anxious for the next few years employment prospects.
amlorusso
says...
3:30am Tue 25 Nov 08
Bobfm wrote:You are missing the point of the real cause of our current economic problems, which is ironic since it's spelt out by one of your colleagues at UKIP in an insightful analysis of our current recession's causes, on UKIP's website, no less.
Compaq, sadly you are right, this is the second time in my life I have seen this pattern. The Tories do not have the answer either. What we need is a more radical approach which only UKIP can provide. The moment we left the EU Britain would be £60 billion a year better off, which in turn would be any extra £1000 for every man woman and child. Not a bad start.
Like the drop from 17.5% to 15% this will also have not one jot of difference to the problems of our economy. Why? Because neither UKIP, Labour, Conservaties or any other party can fix the real problem in our economy today: Like the government, the public has been consistently and massively living beyond their means. All governments can fix is government spending.
Put £60 billion a year into the economy (in lower taxes) and if the public overspends it's income by the same degree we will still be in the same mess. There is nothing intrinsically wrong in choosing not to give the EU that £60 billion a year and keeping it within Britain, but it won't fix the underlying problem.
And don't tell me everybody will start living within their means just because they have a £1000 extra in their pockets every year. The last 3 decades alone disprove that theory.
This will be the 2nd time in my life I have seen a recession, and people still continue to behave like growth will never end. In the face of that, governments are completely powerless.
Captain Sensible
says...
8:19am Tue 25 Nov 08
Bobfm
says...
8:26am Tue 25 Nov 08
Leaving the EU would also enable us to scrap VAT on domestic fuel, and reduce VAT on Business Fuels to a manageable. The Climate Change levy could also be abolished, and with UKIP's flat rate tax/NI policy, again saving the majority £1100/year. The economy could start to move again organically.
Leaving the EU would also allow Britain to trade with 2/3rds of the world under our own terms and to continue to trade with Europe joining EFTA.
Obviously the entire system of financial control would need to be revamped. What Brown/Darling are proposing will keep Britain in recession, if we are lucky to escape depression and deflation for at least a decade, by which time we will have become a third world Nation, the other comparable countries as the IMF has stated coming out of recession far quicker than us. Those are the realities we face. It can be different, it just needs the public to try a fourth way, the UKIP way, because lets face it we are the 'sticky' brown stuff for a decade even with a Tory Gvernment.
ItsPavAgain
says...
9:53am Tue 25 Nov 08
Both feet first into the Euro.
Doesn't sound a bad idea to me.
PeeGee
says...
5:09pm Tue 25 Nov 08
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