|Date:||January 3, 2012|
|Length:||3 / 694|
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“This will do very little to give the UK economy the impulses it needs,” Hermann Simon, from the management consultant Simon-Kucher & Partners, said.
Mr Darling said that the reduction would take place from December 1, for 13 months, and would amount to a saving of ?3.8 billion for consumers this tax year and ?8...
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It was, he said, “the best and fairest approach” for stimulating the economy. “It will make goods and services cheaper and, by encouraging spending, will help stimulate growth.” Mr Darling urged companies to pass on the lower rate as soon as they could.
Professor Simon argued that for every cut of 1 per cent in merchandise prices, demand was typically boosted by only 0...
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