George Osborne's "unavoidable" increase in VAT, the single largest revenue raising measure in Tuesday's Budget, could have been avoided if the Chancellor had not decided to cut other taxes.
Denting the coalition Government's claim Labour's years of overspending had left it with little option but to raise VAT from 17.5% to 20%, Robert Chote, director of the Institute of Fiscal Studies, said: "You might as well say it was his desire to cut other taxes that made it so." The Chancellor unveiled £20bn of tax rises and £12bn of reductions in the Budget, the largest of which were changes to corporation tax for business and a £1,000 increase in the income tax personal allowance. Read more DAVID CAMERON agreed to give up his £66,000-a-year prime ministerial pension last nigh...
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