Justice Sec defends govt u-turns
The Justice Secretary has defended three major u-turns as ministers listening to taxpayers. Plans to hold inquests in secret have been scrapped, as have controversial plans to impose VAT on pasties. Tax on static caravans are to be reduced to 5%.
Latest ITV News reports
Pasty tax u-turn: What's hot and what's not
Ed Balls welcomes u-turn but says more needs to be done
Shadow Chancellor Ed Balls has described the Government's tax policy as "incoherent and flawed". He also welcomed the u-turns but told ITV News further tax reform was needed.
Justice Secretary Ken Clarke defends tax U-turns
Justice Secretary Kenneth Clarke has defended the Government's tax U-turns, saying the changes came as a result of listening to taxpayers.
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Ken Clarke defends government U-turn on caravan and pasty tax
Justice Secretary Kenneth Clarke says that the decision to back out of new VAT rules on caravans was a result of the government listening to taxpayers.
Greggs share price soars following 'pasty tax' U-turn
Bakery chain Greggs was celebrating today following the Government's U-turn on the unpopular "pasty tax".
Chancellor George Osborne caved in on his plans to charge the 20% rate of VAT on hot baked snacks such as pasties and pies.
The climbdown, which followed a campaign to scrap the tax that was supported by 300,000 signatures, saw Greggs shares rise 8% today.
Greggs chief executive Ken McMeikan said: "This is fantastic news for the customer more than anything.
"If we had to put up prices by 20% in the current marketplace when consumers are having a very difficult time we expected there would be an impact on sales but we don't know what it would have been.
"I think the Government deserves to be applauded."
Balls: Osborne's 'economic plan is collapsing'
After tonight's Budget u-turns we need rethink on biggest Budget blunders - tax cut for millionaires & lack of jobs & growth plan
From @edballsmp on Twitter:It seems George Osborne has completely lost control at the Treasury - tax u-turn after tax u-turn and his economic plan collapsing..
From @edballsmp on Twitter:MP on pasty tax u-turn: There will be dancing in streets of Cornwall
Liberal Democrat MP for St Austell & Newquay, Stephen Gilbert, has said there will be dancing in the streets of Cornwall over the pasty tax u-turn:
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Pasty tax u-turn 'shows that the Budget is in total crisis'
Shadow Treasury minister Chris Leslie has said that the pasty tax u-turn is evidence that George Osborne's Budget is in 'a shambles'.
He said: "The whole of the budget is in total crisis and obviously the whole of the Treasury is having its competence questioned."
Pasty tax u-turn: What's hot and what's not
The Government has scrapped plans to implement 20% VAT on pasties and reduced the planned tax on static caravans to 5%
Read the full storyTory MP welcomes pasty tax u-turn
Glad government has seen sense over pasty and caravan tax, as long as we don't see a u-turn tax in exchange!
From @MarkReckless on Twitter:Pasty tax: What's hot & what's not
Treasury sources are describing the revision to their pasty tax plans as "nice, easy, simple."
Let's look at what hot foods will be subject to VAT and what will escape the 20% tax after the Government climbdown.
Hot food not subject to VAT:
- Pasties
- Sausage rolls
- Anything sold from shelves and being allowed to cool having being cooked
Hot food that will have VAT imposed:
- Takeaways
- Pizza
- Food kept and sold hot