Gordon Brown to send price of washers and dryers tumbling down?
We may soon see the prices of energy-saving household goods drop to more affordable levels, thanks to Gordon Brown's latest plan to slash VAT on greener electricals.
The Prime Minister wants to cut taxes on these products to a fixed threashold of 5%, which is quite a big move when you consider that the 'normal' rate on electricals is 17.5%. This would mean that expensive but earth-friendly products like LG's state-of-the-art washer dryer will become affordable to more households. There is also talk of extending the tax break to eco-friendly cleaning products. The PM said: "I'm getting the EU to reduce VAT on environmentally friendly products, ones that can really make a difference and I think that can be a really powerful lever for change." [Via the Guardian]
