VAT reaches highest level ever today
VAT goes up to 20% today, its highest level ever.
The Government hopes to raise an £13bn from the increase, but opposition leaders have been very critical, describing it as reckless.
Business groups have also predicted that it could have a damaging impact on companies at a time of tentative recovery.
Joe Lynam's report features Jane Bevis, from the British Retail Consortium.
04 Jan 2011
- From the section Business