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Front page of the Evening Standard today:

If you don't live in London or would like to read any UK newspaper then you could subscribe to pressdisplay Pressdisplay can provide you with an opportunity to read not only nearly all UK newspapers but many papers from all over the World.

Posted on 09 Jan 2009 by Geoff Edwards
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There has been a lot of criticism of Prime Minister Gordon Brown's Chancellor Alasdair Darling's cut in VAT from 17.5 per cent to 15 per cent. Whilst there have been quite significant reductions in the shops and by suppliers of,  for example building materials, this reduction is important.

Unfortunately, the Chancellor plans to not only remove the reduction from its present 15 per cent sometime in the future but also to claw back that loss in tax by increasing VAT to 20 per cent! 

I am pleased to have a reduction of two and half per cent on the cost of my purchases. This reduction, applies of course, to products that are possibly already reduced. So it is not to be sneezed at!

The future increase in VAT means that one fifth of most of what we buy will go to the Exchequer!  I personally resent paying this tax anyway. No matter what your income you have to pay a substantial amount of the purchase price of a product as a tax. For the effect of VAT on fuel see

Are we just a load of mugs? The cartoon below is republished under a creative commons license from Matt Buck's Cartoon Diary. Matt's website


Creative Commons License

This work is licenced under a Creative Commons Licence.

Posted on 18 Dec 2008 by Geoff Edwards
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How is it that our economy has been been affected more adversely - as reflected in the rate of exchange between the GB pound and the US dollar when this problem was created in the USA?

The American financial corporations created the problem by advancing money against nothing more than what US citizens may earn in future. And worse, some of these "bankers" advanced money to people without checking whether they would be capable of repaying that money. I suppose we have come off worse because the UK economy appeared to be in better shape.  No doubt we will find out, sooner or later whether we were in better shape.

Update, as I write: Baroness Vadera -the Business & Enterprise Minister - has revealed in the House of Lords debate today (Current Economic Situation Debate) that we, indeed did have a serious problem. . .

Posted on 27 Oct 2008 by Geoff Edwards

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