The change, however, may not be as intended. Soon, the area could be a beneficiary of two plans announced by the chancellor, Kwasi Kwarteng, yesterday: the return of duty-free shopping to high streets and the scrapping of the 45% income tax band.
Trailing out of Selfridges with the store's yellow bag dangling from her arm, Rita Waters, 66, welcomed Kwarteng's mini-budget While, as a British citizen, the VAT tax change won't alter her shopping habits, she welcomed the decision to scrap the additional tax band on those whose annual income over £150,000.
"And it will filter down," said Waters, who is retired. "It will filter down to the people who don't pay tax. Maybe they'll have more money in their pocket."
This story is from the September 24, 2022 edition of The Guardian.
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This story is from the September 24, 2022 edition of The Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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