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> Coronavirus Part 4, The Final Chapter?
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Doctor Blind
post 3 hours ago
Post #461
#38BBE0 otherwise known as 'sky blue'
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I'm a bit disappointed that the rumoured '£500 to spend in the local economy supporting small businesses' wasn't announced. Clearly the annoucement on VAT is welcome but I feel the proposal, including that on the £10 vouchers on meals on Mondays, Tuesdays and Wednesdays, will just end up benefitting the larger businesses and chains and is ultimately more of a sticking plaster on what could be a really awful 12-18 months for the hospitality sector, likely to conclude with many smaller businesses going under and many redundancies even from larger ones. It also was clearly aimed at distracting from the absolutely massive £15bn being spent on PPE (over 7 times greater than this big annoucement)! As you've mentioned Steve this is all about confidence and feeling safe when dining out in public (eating out, as Twitter pointed out today has rather DIFFERENT conotantions), I'm not sure whether this or a more efficient Track & Trace programme in place would be more effective at that - but for me the latter would be much more reassuring.

Don't get me started on the props for the corrupt UK property market, clearly designed to maintain the overly inflated property prices and benefit land barons like Mr Desmond.
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Quarantilas
post 1 hour ago
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Short term temporary VAT cuts are a waste of f***ing time. A lot of tax departments in big businesses will be absolutely furious at not only the cut itself but the short notice. Many won’t have been able to properly update their systems by next week.


I wouldn’t hold my breath for the rate cut to be passed on. Small cafes are likely to be under vat threshold anyway if they’re a single wee shop so don’t charge vat already. Other SMEs are more likely to keep prices the same, or increase them post COVID and pocket the change to help them recuperate their losses. Big chains most likely to pass on but I can foresee some not.



Germany has a similarly pointless but wider VAT rate cut that is just a wholesale slashing of both vat rates. Big electronic stores are passing savings on, as is Netflix and Vodafone. But my food shop is still the same price, eating out is still the same price. Makes no difference to the end consumer in reality.
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