Government cut in VAT to ease short term debt

The government's decision to potentially cut VAT could well ease many families debt problems as the expensive Christmas period approaches.

Labour are expected to announce a cut somewhere in the region of 2.5% which they hope will encourage more people to spend and stimulate the economy.

However, it also means that people can expect to pay less for all kinds of products, saving them a great deal on the cost of Christmas festivities.