George Osborne has produced another spectacular U-turn by reversing plans to put VAT on pasties and similar varieties of hot food - as long as those pasties have been put on a tray and allowed to cool down. The surprise revelation on Monday night means the Treasury has lost around £50m in revenue in this year's Budget, and comes alongside another U-turn; attempts to introduce 20% VAT on static caravans have been scaled back - they will now attract a lower rate of 5%. And in ANOTHER policy reversal on what will become known as 'U-turn Tuesday' (at least in our heads) Ken Clarke has announced that powers to hear evidence in secret in civil courts will not be extended to inquests and will only be allowed in the interest of national security. The cynics among us might suggest that this triple U-turn was delayed until parliament went into recess to stop Ed Miliband and Ed Balls being able to gloat so much about it. BLOG POSTS
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