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Abolish Value Added Tax

Comment 6th July 2010

The abolition of Value Added Tax and an attendant increase in income tax (gradated, putting say 1p on the lower and 3p on the upper rate).

Why does this matter?

Many advantages:

– Means that non-payment of VAT is no longer a problem;

– Reduces tax administration for small businesses;

– Stimulates spending

– Makes the tax system less regressive.

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