Lots of media talk backed by Institute Fiscal Studies that a 20% vat is coming

[London Calling]

FT.com / Global Economy - IMF warns rich countries on debt

FT article in which the IMF report that public debts are continuing to rise across the globe, and are advocating a removal of exceptions to VAT and a hike in the basic rates as a way for all economies to combat the debt. It suggests that cutting in half the exemptions on UK VAT would raise 3.3% of GDP.

Off topic do you like Cambridge the missus is from there?