Sainsburys Finance rep discusses effect of VAT increase on consumers
www.moneynews.co.uk > Credit cards > Sainsburys Finance rep discusses effect of VAT increase on consumers
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Sainsburys Finance rep discusses effect of VAT increase on consumers
Wed 8th Dec 2010
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Stuart McKeggie, head of cards at the brand, suggested the tax policy change will make people think twice about making large purchases.
In his opinion, the VAT increase will affect every household in the country, but each family will be hit in varying degrees by the levy.
The Sainsburys Finance spokesperson urged individuals to retain benefits from spending on their credit cards by making sure they receive rewards from their purchasing activity.
"If you are making any big credit card purchases, regardless of whether or not they're exempt from VAT, shoppers should make sure that they are making their card work for them," he added.
His comments were made in response to a study by Acxiom, which indicated households in the UK will be £6.2 billion worse off as a result of increase in VAT from January 4th 2011.
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Related News : Sainsbury |
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