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Professor Jan Wenzelburger Interviewed by BBC Radio Stoke on VAT Increase
Prof. Jan Wenzelburger
Professor Jan Wenzelburger was interviewed about the effects of the VAT rise by BBC Radio Stoke. Jan explained that the VAT increase was necessary to reduce the budget deficit caused by the bailout of British banks. He went on to say that the increase of 2.5% is fairly moderate and the effects for consumer behaviour are likely to peter out by July 2011. Jan also pointed out that food and baby clothing are not affected by the VAT rise and that lower income families will be partially compensated by tax credits.
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