VAT rise set to cost the economy 250,000 jobs

These are Nick Clegg’s own figures which he was so keen to highlight before the May 2010 General Election. He even pulled out all the stops with this huge billboard warning against the ‘Tory VAT Bombshell’. Little did we know that a few months later, he would be patting George Osborne on the back as he announced the Tax hike.

“We will not have to raise VAT to deliver our promises. The Conservatives will. Let me repeat that: Our plans do not require a rise in VAT. The Tory plans do, they come with a secret VAT bombshell”.

(Nick Clegg, 28 April 2010)

Now the Lib Dems will be raising VAT to 20%. Ed Miliband has called this VAT rise the wrong tax at the wrong time that will hit people all the time.

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