Read this morning Pre-Budget Report and Alistair Darling's £1 trillion debt gamble (Times Online)What the chancellor, and the media, forget to say is that VAT cut won't help much in an economy that's hooked to imports.
More borrowing probably in fact will further weaken the Sterling Pound, resulting in more imported inflation and negating those 2.5% VAT cut.
Time to join the Euro?
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