I just received a text from O2 reminding me that from 1st of January VAT is going back to 17.5%. Basically forewarning me that my phone bill will be more expensive (by about £1.50 on average). It's only because it's been mentioned a few times recently that I'd even remembered that we had had a temporary VAT cut (being out of the country when it happened didn't help me even notice a change in prices). It will be interesting to see what it does to prices come January, will the January sales effectively absorb them? Or will nothing look quite as attractive this year.
Now as I remember it the cut in VAT was only temporary and until January 2010 because it would help stimulate economic growth and spending and by then we'd be out of recession...
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