TaxAdministrationTories examine raising VAT to 20%

Tories examine raising VAT to 20%

Party refuses to rule out a hike in VAT if it wins 2010 election

Tory shadow chancellor George Osborne

The Tories have studied a possible hike in the rate of VAT to 20%, with the
party refusing to rule out a rise if it is elected, according to the Daily
Mail
.

The VAT hike is a policy first discussed by Labour and would raise an
estimated £10bn.

The Mail quotes an unnamed source who said tax rises would have to
be part of the Tory policy equation.

The paper said William Hague refused to rule out the policy saying the shadow
chancellor George Osborne would not be forced into writing a 2010 Budget now.

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