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Rainman asked in Politics & GovernmentGovernment · 10 years ago

"I'm backing Britain"?

Do you think a reduction in VAT on all goods made in Britain would kick start the economy,and encourage investment ?

Update:

Don't you think that more foreign manufacturers would be then encouraged to open up factories in the UK to make their products in the UK cheaper, I'm not saying that the VAT cut would apply only to British firms.

7 Answers

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  • Anonymous
    10 years ago
    Favorite Answer

    Yes,yes,yes!

    It never ceases to amaze me how British consumers, use their buying power to buy their own unemployment, naively believing that the price they pay for Chinese products is on the label.

    The true price is unemployment, industrial decline, poor schools, increasing crime, social decay and further economic difficulty, all bought and paid for by British consumers usually with borrowed money.

    The only beneficiaries of this Lemming like behaviour are the Government, the Banks and large retailers, all at the expense of the gullible public.

    British products should be VAT exempt and Chinese imports subject to 30%, those with "British" branding at 40% to stop Chinese goods being disguised as British and priced accordingly.

  • ?
    Lv 5
    10 years ago

    It's too hard to tell but some industries would surely get a mich needed boost, even though I'm not sure which or what they would be. However ultimately it might mean consumers suffer in certain areas or products. For example Australia have a very high luxuary Car tax on pretty much anything not produced in Australia, which is ford or Holden. So here for you can get a big vauxhall or a 3 series for around the same. Over their you can have a big Holden (effectively an old vauxhall/Opel design) for the same price here 23k but the 3 series starts at about £40k. Great if you work in the Holden factory, but if you want a decent car tough luck unless you are mega rich.

    Its certainly worth thinking about as I would love to support British companies, but again impossible due to eu competition laws labour signed up to.

  • Cougar
    Lv 5
    10 years ago

    That would contravene the rules of the EU. A buy British campaign would work, but ultimately people are price conscious. People will buy the £10 jersey made in China rather than the £50 one made in the UK, even if it is better quality.

  • Anonymous
    10 years ago

    Britain's people already have too many and too high taxes. Why doesn't the government spend it properly instead of having lush parties, exquisite travel, and government contracts, etc. which are outrageous?

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  • ?
    Lv 6
    10 years ago

    It would have to be big enough to take effect but any such course would probably result in a Greece style economic problems to pay for it.

  • ?
    Lv 7
    10 years ago

    No it would be against EU rules and not enough stuff is made in Britain these days

  • Anonymous
    10 years ago

    YES.

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