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  We think we have it bad here, yesterday it was announced that Ireland's Vat would rise to 23%. This is a wallet pinching gut wrenching rise. I just dont know how a Eurozone economy can sustain such high levels of taxation and still recover enough to see some growth. Thats almost a quarter of the cost EXTRA.. on every single thing you purchase in the High Street, every single restaurant you go to..and so on. Buy something for £100 and its now £123.
  
  Surely this will cause stagnation..people will baulk at those figures. Who will go to a restaurant? who will shop in the High St for anything other than basics? I dunno. It seems the economics of the mad house.
  
  Well all the Eurozone countries are tightening things to eliminate debt, Ireland are spending 16billions more than the take in with taxes, so you can see the need to tighten things to satisfy Merkel and Sarkozy etc.
  
  But at the same time they complain that they need growth. I think the Ed Balls idea of cutting VAT makes more sense to me. The treasury loses initially but gains when people get enough confidence back to start spending again in the High St. This is turn creates demand, thereby creating jobs.
  
  I hope this doesnt give George Osborne any ideas here...23% - No Thanks!

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