Wednesday, 16 December 2009

It really is none of my concern but....

Since selling up and ducking out of the business arena after 20 years as an entrepreneur/businessman/Director/ General tax collector I should really not concern myself with matters concerning business but I can't help it. 

I'm astounded that the Government are pressing ahead with the plan of increasing VAT back to 17.5% in January despite them being painfully aware how badly industry and retail are doing. 
What annoys me about any elected Government is that they worry too much about the next election instead of making a difference during their term in office. 

I emailed Mervyn King (Governor of the Bank of England) in 2007 and warned him that his interest rate rises were coming too thick and fast and that we were heading into recession, I received a rather patronising reply that basically said "shut up, I know what I'm doing boyo" clearly not!

I have a simple plan for VAT:

Reduce VAT to 10%, remove the threshold so that EVERY business needs to register. This will even the playing field between the cash cowboys and real business and as 10% is acceptable people will be less inclined to dodge it therefore removing the need for an army of VAT investigators. I reckon that the revenue generated will be more than is generated now, everyone benefits!

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