Comment: The economists, over the years, have not come down to the reality of accounting dollars and cents sense. Continuous years of spending more than the revenue collected (deficits) simply meant we have been living on credit. Now its time to pay the credit there is not enough real $ to do so! The PM is not convinced that VAT at 17% is revenue neutral or positive. So he has built in extra cover by increased taxes, before VAT shows a proper trend to evaluate. Less disposable income is not the answer. |