Rejected petition Help Small UK Business & The UK Population by Reducing The VAT back to 17.5%

1/5 of the total price of product is VAT charges. Obviously this only applies to certain products. But by reducing VAT on those products would help thousands if not millions of people on low incomes and benefit small business that our communities relay on so much.

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VAT is the goverments third largest source of income. VAT has been reduced before in 2008 to 15% amd then increased to 17.5% in 2009. This benefited both low income families and business to develop and spread money a lot easier.

"VAT is regressive in nature: It hits poorer households harder because consumption makes up a much larger share of their disposable income," said Michael Martins of the Institute of Directors (IoD).

This petition was rejected

Why was this petition rejected?

There’s already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.

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https://petition.parliament.uk/petitions/165303

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Date submitted 22 January 2017
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