Raising Vat was right move at right time

The impact on households of the Vat rise has been overstated, and there is a possibility it will actually raise the revenues the government needs, writes Pascal Brennan.

1st January, 2012
Raising Vat was right move at right time
Ireland's Vat rate is not out of line with the EU average. Photo: Collins

Whatever the real financial impact of indirect tax increases, it always helps if you feel you have a choice whether you incur a tax or not. How real that choice is - when essentials such as clothes, petrol or diesel for the car are taken into account - is debatable. Nevertheless, it still just feels better when you open your pay packet and find that it has not been depleted again.

From an international perspective,...

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