Tweet of the day - 3 Jan 2011

Ed Miliband is trying to put it about that the (modest) imminent rise in VAT is something that Labour would never do.

Well, just one year ago, as Tory Press HQ reminds us...

"According to Ed Miliband, Labour never raised VAT. Except last January, that is..."

Oh yes, so they did, even if it was just restoring a previous rate. The impact then would have been the same as it will be this time - just two-and-a-half percent on top of the present 117.5% of the price before VAT. Something costing £2.30 a year or so ago went up to £2.35, and will now be going up by the same amount (5 pence) to £2.40.

Wow! That'll break the bank...