Shadow chancellor calls for VAT reduction

The call is part of Ed Balls’ five-point plan to kick-start the economy, which also includes a

Published 27th October 2011

The call is part of Ed Balls’ five-point plan to kick-start the economy, which also includes a 12-month national insurance break for small businesses taking on new workers.

Ed Ball

Echoing the Builders Organisation is Federation of Master Builders Cut the VAT Campaign, his ‘plan for growth’ came in a speech to the Labour Party Conference in Liverpool on 26th September in which he vowed a Labour administration would have an “iron discipline” on spending.

His five-point plan included a boost for growth by cutting VAT to 5% from 20% on home improvements, repairs and maintenance to help householders and businesses whose income has been hit by the stagnant housing market, a one-year national insurance break for every small firm which takes on extra workers and a repeat of Alistair Darling’s tax on bank bonuses to pay for home-building and jobs for young people.

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