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What year was VAT was put up to 17.5%

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Homer55 | 13:30 Mon 18th Sep 2006 | History
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What year was VAT was put up to 17.5%
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Norman Lamont increased it to 17.5 per cent in 1991
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How much was it before that then?
15% before that, since the first Thatcher aadministration; 12.5% before that, as I recall
In 1979, the UK had a Zero Rate, a Basic Rate of 12.5% charged on "luxury" items and a reduced rate of 8% charged on most other goods and services.

When the Conservatives came to power that year, Chancellor Geoffrey Howe increased both of these to a single rate of 15%, to partially offset the impact of large cuts to the Basic and Higher Rates of Income Tax. This was portrayed as a deliberate move aimed at shifting the burden of taxation from earnings to consumption.

VAT remained at 15% until 1991, when Norman Lamont increased it to 17.5%.

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