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PPI Claim: VAT 'affects poor more'

Payment protection claims could be useful for many consumers in the UK who are seeing VAT cut into their household budgets.

New figures from the Office for National Statistics show the lowest-earning families in the country are paying a higher proportion of VAT than the equivalent low-earning families did in 1986.

The research also found that they are paying a higher amount of VAT per income than the highest earning households.

Much of the discrepancy between the two dates can be attributed to the five per cent VAT that was added to fuel in April 1994 but consumer spending habits have altered too.

In 2009-10, the lowest socio-economic groups are spending a much higher amount on goods that come with value added tax levels, such as cars, holidays and televisions, concluded the report.

British Retail Consortium director general, Stephen Robertson said the government's recent VAT increase had slowed consumer spending.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance. ADNFCR-2776-ID-800782252-ADNFCR



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