The Irish VAT rate is the same rate as the Greeks, the difference is that the Irish will pay it!!
I will go along with you in one sense PaulB - higher taxes are not the answer, they are more the problem. The answer is to cut government spending.
Taxes in the UK should certainly be cut to help the economy but not VAT. Better to cut corporation taxes and income taxes, particularly the higher rates and that will increase the levels of revenue the government gets.
I have to say that taking advice from Ed Balls on the economy is like taking advice from HSBC on where the very elderly and terminally ill should invest....
