It could have been a lot better.

20% vat hits the poorest sector in the pocket...... to the rich that is a drop in the ocean....

The rich buy more stuff, so they pay more VAT - seems straightforward to me. I've always resented and regarded VAT as a form of robbery, but at least there's an aspect of even-handedness to it.

I doubt there has ever been a budget that couldn't have been better for someone.