I didn't mention VAT, but as you brought it up, contribution is fixed at 0.3% of VAT revenue - ie 0.06% of the net charge of taxable supplies in UK. The fixed contribution is standard for all EU states, and the net based on individual states' choice of VAT rates. So by exiting we could reduce VAT to 19.94%. Below this would result in a reduction in retained tax revenue which would be at the expense of public spend or ability for deficit reduction. Also it is misleading to associate EU standardisation with imposition of indirect taxation. Before VAT we had purchase tax which at once stage was charges at over 38%. Unfortunately I was only 12 or 13 when it was phased out and as such I am yet to find a web page that explains its mechanisms. With regards to making choices - I do not have problems with making decisions as part of a wider consensus with care towards how my decisions have an impact on others and only 0.25% of decisions in the council of ministers not going UK's way is not a bad track record.
|