Gordon Brown’s temporary VAT cut is costing us all £31M a day.
For the same money you could buy 31 MRI scanners a day for the NHS. Or 31 new children’s centres.
At £31M a day, that’s nearly £1.3 an hour. Enough for a new adult education centre every hour of a 24 hour day.
Or, as Nick Clegg argues, you could use the total £12.5bn spent on the VAT cut to create 95,000 jobs nationwide.
The VAT cut is a drop in the ocean when retailers are already slashing prices to get the punters in. The Federation of Small Businesses says it’s had no impact at all. This money could have been spent so much better.
Bridget's Blog 
Richard F said
I’ve also noticed that several of the local coffee and sandwich shops have slyly rounded their prices back up again – so the benefit of this cut is going to businesses (some of them quite large international businesses) rather than into the pockets of real people.
UK Voter said
I think I would spend it on an immediate election. I doubt anyone would criticise that expenditure, except of course, Mr Brown who would be down his local Job Centre Plus.
Equitable Life: Labour must get on with it « Bridget’s Blog said
[…] a time when the Government is willing to spend billions on bailing out bankers or a temporary VAT cut, it’s unacceptable that they can’t or won’t get on with proper compensation for […]
Richard said
I think we could spend it on economics classes for people who don’t understand who tax works and think a VAT cut does not help.
£1.3 trillion we won’t see again « Bridget’s Blog said
[…] under Campaigns ·Tagged banks, economy, Gordon Brown, Labour, public expenditure I blogged before about the waste of £31M a day on the useless VAT […]