"Some of the jam we thought was for tomorrow, we've already eaten."

The Chancellor is preparing to use his annual Pre-Budget Report (PBR) tomorrow to cut the European Union Tax (VAT) from 17.5p to 15p,

But this will mean higher taxes in the longer term to pay for it.



Alistair through the looking Glass

'I'm sure I'll take you with pleasure!' Alistair said. 'Twopence a week, and TAX every other day.'
WE couldn't help laughing, as we said, 'I don't want you to hire ME - and I don't care for TAX.'
'It's very good TAX,' said Alistair.
'Well, I don't want any TO-DAY, at any rate.'
'You couldn't have it if you DID want it,' Alistair said. 'The rule is, TAX to-morrow and TAX yesterday - but never TAX to-day.'
'It MUST come sometimes to "TAX to-day,"' WE objected.
'No, it can't,' said Alistair. 'It's TAX every OTHER day: to-day isn't any OTHER day, you know.'
'WE don't understand you,' WE said. 'It's dreadfully confusing!'
Hat tip Lewis Carroll (1871)

I bet he doesn't reduce VAT on petrol.

Have a look at what Dizzy Thinks