a time where lots of people are still struggling to be able to secure full time work and others finding themselves suddenly out of work Dzanan Musa Jersey , more of our hard earned money being taken couldn’t have come within a worst time period. The increase also looks set to hit those who are already considered to be financially vulnerable the hardest.


With the Guardian revealing that “(The) VAT increase from 17.5% to 20% will cost each household around ?520 a year” and Ed Milliband, Leader of the Opposition arguing that the tax rise could mean that it costs the average homeowners around ?7.50 weekly, the future looks rather bleak for the public.


Exactly how much is the raise?


Although the tax is increasing by 2.5%, the price you pay won’t increase by 2.5%. The reason for this is that some of that price is already Value Added Tax: the latest rate will only be charged on the price before VAT is put on.
One example is, a teddy which would have set you back ?9.99 at 17.5% VAT would now cost you ?10.
In many instances Drazen Petrovic Jersey , this would mean that some thing which would have cost ?100 before the tax hike, will set you back ?102.13 today.


Will all items be affected by the VAT raise?


No, don’t worry! Not everything will be affected. Necessary buys including children’s clothing, food and magazines remain at 0% VAT and goods such as electricity and gas are at 5% VAT.


The items that will be charged at 20% VAT would be things such as televisions, takeaways DeMarre Carroll Jersey , bikes and teddies. Unfortunately, for regular pub goers, you might find that your standard pint has been increased by as much as 6p!


What exactly does this VAT increase mean in my circumstances as a road or train user?


. Unfortunately for car users, there has been a double whammy of increases. The