Conservative party cannot rule out VAT increase
To give credit where credit is due, the Conservative party has today confirmed that it is unable to rule out an increase in UK VAT if it was to gain power in the general election next year. In what appears to be a direct challenge to the UK government, the Tories have taken a slightly different tack to the one taken in the past, and set out clearly the potential for significant tax rises in many areas of the UK economy.
It is believed that an increase in VAT to 20% would cost each UK family an extra five pound a week which would go towards paying off the UK national debt. The move by the Tories to confirm that radical ideas are being discussed within policy-making groups has placed the UK government, i.e. the Labour Party, on the back foot. Gordon Brown and his fellow Labour MPs have always attacked the Tory party for their reluctance to increase taxes and their "soft approach to the wealthy".
The move to set out a plan to pay off UK national debt has taken much of the sting out of any potential Labour Party attacks in the future and placed the Conservative party in pole position for next year. The Conservatives will always be able to use the excuse that Gordon Brown and his government lost control of the national debt and the Conservative party is here to save the day.
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