VAT cut not the right tax tool, when millions have been saving for 3 months & have money to spend.

It is not targeted on vulnerable sectors & would place far more money in hands of rich than poor, when crisis already risks deepening inequalities https://on.ft.com/2zP4ZPZ ">https://on.ft.com/2zP4ZPZ&q...

Better ways of stimulating economy

- increase universal or means-tested benefits (or 1-off cheques for recipients)
- targeted tax cuts or shopping vouchers for at-risk sectors
- cut to employer national insurance to make hiring cheaper

If we’d cut VAT take by a quarter in 2017/18

- The 10th with the lowest incomes would have saved £460
- The 10th with the highest incomes would have saved £1,760

https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/theeffectsoftaxesandbenefitsonhouseholdincome/financialyearending2018">https://www.ons.gov.uk/peoplepop...