Chancellor George Osborne delivered his first Budget,
introducing it as "tough but fair", with increased living costs likely
for most of the population. At first glance it appears that motorists
will pay dearly, thanks to a significant hike in the VAT rate.
The
standout announcement in the Budget was a change in the VAT rate from
17.5- to 20 percent. This takes effect from 4 January 2011 and will up
the cost of everyday items for all. The 2.5 percent increase will have a
marked effect...
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