- UK Labour opposition considering VAT increase as a potential option for tax rises
- Labour has committed to no personal income or NIC tax rises if they win the upcoming general election
- The next UK government will face tough public finances outlook
- VAT is the third major tax in the UK after income tax and NIC
- In 2010, the Conservatives raised VAT to 20% to tackle record debts
- Labour has also mentioned ending VAT exemption for private schools
Source: vatcalc.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
