Tax rises in the VAT and Fiddle
The final day of 5live Drives Down the Deficit and we're in the VAT and Fiddle pub in Nottingham to talk tax. Another panel of local would be chancellors is here, ready to cast popularity to the wind and make pips sqweak all over the place.
Chris Holmes, the Chairman and Chief Executive of Castle Rock Brewery, and owner of the pub joins us.
So does Philippa Double, a small businesswoman and Nick Searle who works in local government.
The trio rejected extending the regular rate of VAT to things like fresh food and childrens clothes.
But they did approve a higher rate of VAT on luxuries such has perfume, fast cars and private jets.
And a bin tax was signed off too. If you want your bin emptied every week, or you have loads of rubbish, you'd have to pay for it. They were also open to the idea of a text message tax.
All their proposals would generate, we estimate, £31bn in extra revenue. So, overall, on a very rough and ready calculation at the end of our week of travelling, our chancellors have reduced the government's overdraft by £66bn.
It would still stand at £90bn. The real Chancellor, George Osborne, will reveal his plans when the Comprehensive Spending Review is published in October.