Nick Clegg today joined David Cameron in attacking the VAT cut as "a waste of money" (DC said something similar yesterday).
It hardly takes a single-celled organism to realise that a cut in VAT results in HMRC receiving less income - the Government does not pay for a sales tax cut through general taxation.
Therefore NC and DC are essentially arguing that consumers are wasting the money they are not giving to the goverment (presumably by saving it), and that government would spend it better if only consumers weren't able to keep it.
Most bizarre.
