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VAT’s a great early Xmas treat for shoppers
 

Supermarket giant Tesco today unveiled an early Christmas present for shoppers.

The chain said it would pass the VAT reduction announced by Chancellor Alistair Darling on to all applicable non-food products, including electrical goods, home entertainment and clothing, from Friday - three days early.

Tesco commercial director Richard Brasher said: "We know many families will start their Christmas shopping this weekend, and we don't want customers to miss out on the cut in VAT which comes in on Monday."

Some shoppers have already started to cash in on the cut.

A spokesman for DSG international, owner of Currys, PC World and Dixons.co.uk, said they had passed it on at midnight on the day of the Pre-Budget Report.

He said: "We felt it was right thing to do."

But amid the VAT cuts, Tory leader David Cameron accused Gordon Brown of planning a secret "tax bombshell". His comments came after a document mistakenly published on the internet revealed the Treasury had considered increasing VAT to 18.5% in 2011.

Publication date 26/11/08

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