Posted by: secretperson | April 14, 2008

Government Made £0.5bn from Floods

VAT payments on house repairs outweighed investment meaning the government made a profit of nearly half a billion pounds on the devastating floods of last summer. The Taxpayer’s Alliance calculated this and highlighted it in a call for VAT rates to be cut from 17.5% down to 5%. As I am sure they know, this would not be allowed under EU rules.

But knowing the Government gained, despite no doubt telling you it was helping, has just got to rub salt into the wounds of flood victims.


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