Comments on: Is 2.5% enough?

By: Mortgage Site

Mortgage Site — Wed, 10 Dec 2008 17:12:59 +0000

the VAT cut is just about useless. I calculated that my normal weekly shop at my local supermarket has dropped by Â£1.25! Thats not going to stimulate me to restart the ecomony by spending large on good

By: phoneboy

phoneboy — Wed, 03 Dec 2008 16:59:40 +0000

Not only is it going to not make any difference, it will actually make things worse, given the U.K. government is operating at a deficit like the U.S. is.

By: TrevorBennett

TrevorBennett — Wed, 03 Dec 2008 08:56:13 +0000

Hi Samantha.

Well said - in real terms it's simply not gioing to make any difference whatsoever unless you buy a "big ticket" item, like a car or new kitchen etc...

In my life, the VAT cut is just about useless. I calculated that my normal weekly shop at my local supermarket has dropped by Â£1.25! Thats not going to stimulate me to restart the ecomony by spending large on goods!

It's not all bad though, my INQ1 that I will buy in the next few days has dropped by almost Â£2! Now maybe if I spent that extra Â£2 at Wollworths* I might save them too..........

Cheers for now,

Trevor.

* For those overseas readers Woolworths is a UK shop that has just gone into administration, and is on the verge of collapse.