Submitted on Wednesday 17th August 2011
Published on Monday 22nd August 2011
Current status: Closed
Closed: Wednesday 22nd August 2012
Signatures: 2
3 Tier VAT Rate to Boost British Manufacturing & Create British Jobs
Introduce a 3 tier rate of VAT to help British Manufacturing, thus help sustain and create UK jobs.
A 3% VAT rate for all goods that are sourced & manufactured, by British workers within the UK. Goods will allowed a certain,small pre determined amount of materials to be imported, this will be decided on when necessary as some goods cannot be made 100% from UK materials.
A 10% VAT Rate on goods that are not manufactured but are assembled within the UK, using British workers.
A 40% VAT rate on all imported goods, the exception would be made to essential materials (Medical Equipment & Drugs, Fuel etc).
This would help British made goods stand a chance in the market place both in home consumption and export.
By ensuring British workers were employed, it would save the Government paying out benefits to the unemployed, they would also raise more revenue through Inland revenue and National Insurance.
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