The Sun, 28 August
The VAT rate will be halved if Tory leadership front-runner Liz Truss endorses calls from her allies.
The 20 per cent sales tax is slapped on the majority of everyday costs — and a cut to ten per cent would set the Treasury back more than £60billion.
…
Yet last night top economist Prof Patrick Minford insisted it would cushion families from the cost-of-living crisis.
He said Brits are currently shouldering an enormous tax burden and added: “It’s perfectly logical to offset that and reverse it.
“The quickest way to do it is through a cut in VAT which can be done immediately.”
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