VAT rise was far from 'unavoidable' - papers

Denting the coalition Government's claim Labour's years of overspending had left it with little option but to raise VAT from 17.5% to 20%, Robert Chote, director of the Institute of Fiscal Studies, said: "You might as well say it was his desire to cut other taxes that made it so." The Chancellor unveiled £20bn of tax rises and £12bn of reductions in the Budget, the largest of which were changes to corporation tax for business and a £1,000 increase in the income tax personal allowance. Read more   DAVID CAMERON agreed to give up his £66,000-a-year prime ministerial pension last nigh...