BIRKENHEAD MP Frank Field has criticised the Government’s temporary 2.5% VAT cut as “fatuous” and “pointless” in an entry on his internet blog.
Chancellor Alistair Darling announced the 13-month reduction in VAT to 15% in his Pre-Budget Report in November.
Mr Field voted against the VAT cut last year, urging Mr Darling to use the money instead to supply credit to viable businesses which might otherwise go under.
“Weeks and weeks later the Government still hasn’t announced how it can throw extra lifelines to viable companies who are denied working capital from the banks,” said Mr Field.
