Alistair Darling confirms return to 17.5 percent VAT on January 1st 2010 in Pre-Budget Report

The UK Chancellor of the Exchequer,  Alistair Darling, introduced a temporary lower rate of VAT in last year’s pre budget report.

There was some speculation that he might have extended this reduction beyond the original term. However, in today’s pre-budget report statement to the House of Commons, he said:

I can confirm that VAT will return to 17.5 per cent on January 1 as planned.

Mr Speaker, I have no other changes in VAT to announce.

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