Greggs share price up after pasty u-turn
Shares in the Newcastle-based baking giant Greggs rose by 6% this morning after the Government climb down on 'pasty tax'.
Ministers have decided to reverse plans to charge VAT on hot baked goods such as pasties, pies and sausage rolls.
Shares in the firm had fallen by 15% in the wake of the announcement in the Chancellor's Budget in March.
Victory for bakers after 'pasty tax' U-turn
A vocal campaign by high street bakers, including Newcastle-based Greggs, helped overturn an "unpopular and unfair" tax.
Pasty row rumbles on
The debate over George Osborne's plans to charge VAT on hot takeaway food rumbles on