Prices being hiked up by more than VAT
Last week, I received notification that one of my expenses was increasing by 25% as of 1 Jan. Now that’s alarming, but that excludes the scheduled 4 January 2.5% increase in VAT to 20%. So effectively, this expense will be increasing by a round figure of 32%!
I don’t know if it’s just me, but I feel that some suppliers are abusing the VAT increase to mask their desire to squeeze a little it bit more out of our pockets. So, it’s not just high-street shops slipping in under-the-radar price increases but our business partners, too.
If you’re experiencing something similar, then please post a comment.