Shadow chancellor Ed Balls calls for temporary VAT cut
Shadow Chancellor Ed Balls yesterday raised the possibility of a temporary cut to VAT to help boost the UK economy.
Balls, who was speaking at the Labour Party Conference in Liverpool, stopped short of making a concrete pledge on the issue and there were few details on what shape such a cut should take, but he told the Coalition Government that moves such as a cut to VAT were "immediate steps" that it could take to support the economy.
The call adds weight to the growing case for a cut to VAT in the hospitality sector. Caterer and Hotelkeeper‘s Slash VAT, Boost Business campaign has made the call for a drop in VAT to just 5% to create thousands of new jobs in the sector.
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By Neil Gerrard
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