TIMING OF CHANGES TO VALUE ADDED TAX

That this House notes with concern the proposed timing of the reversion of value added tax to the 17.5 per cent. rate on 31 December 2009 which will disrupt crucial Christmas trading, strain staff during that period and impose a cost in excess of £90 million when working capital is under strain; further notes this imposes a de facto alcohol duty increase; further notes trade credit support will be withdrawn the same day; and therefore supports The Grocer's campaign for a four-week reprieve on the value added tax increase to protect business during a critical trading period.