Ineffective VAT cut only helping the rich
A leading local Liberal Democrat has slammed the government's VAT cut as ineffective. Michael Mullaney, Liberal Democrat parliamentary spokesman for Bosworth has attacked the cut after figures were published showing that the cut has benefited the richest households the most. The richest households will save around £1.2bn from the Government's VAT cut, while the poorest 10% will only save an estimated £360m.