Here’s a potential truth bomb from Maximilien Robespierre on YouTube: Liz Truss has said she wants to help people beat the cost-of-living crisis but in fact it seems she’s just trying to cut VAT.
Here’s the clip:
So she wants us to think she can save families £1,300 per year by cutting all VAT by five per cent – but to achieve that, families would have to spend more than £30,000 on items on which VAT is levied.
Who does that – apart from the very rich?
And she reckons it would help businesses, even though it won’t affect the tenfold increase in their fuel bills. Many firms have already decided to close or suspend operations until real support is presented by the government.
Finally, the cut would take £38 billion out of the government’s hands every year (yes, I know – taxation takes money out of the economy altogether, rather than recycling it back in, but it also allows a government leeway to put the same amount back into public spending if it so desires).
And it would not help people on low incomes in any way because most of their expenses – apart from gas – are VAT-exempt.