I simply can't believe that it's already nearly the end of June and tomorrow is the longest day! These past few months have flown by and it still feels like the end of April in my head!
I guess that's because as you grow older, every year is a smaller proportion of your life so the time ahead in the real universe seems to go by much more quickly. But I think it's also because I always seem to be slightly out of kilter with the seasons. I heard someone say once that after 21 June, it's all downhill until Christmas and already the shops are having their summer sales and starting to bring in their "back to school" stock. So that hardly helps.
But actually I think I always feel a bit out of sorts because the longest day is usually over before we've had our real summer weather. June always sort of hits me by surprise because I'm still coming out of my spring phase and feel a bit shell shocked by the lengthening days. July and August are of course traditionally our warmest months and in my head, long days are associated with summer weather. Of course on teh flip side, I always feel a bit disoriented (disorientated?) when I notice the nights starting to draw in during August - it somehow feels as though we're being robbed of summer!
Anyway back to business, lots of speculation about the budget but thankfully we'll know what's what in the next 48 hours. Personally I think Mr Osborne should just bite the bullet and put the standard rate of VAT up to 20% to increase his tax take. I know it won't be a popular move in all circles but if we've got to go through the misery of sorting out the deficit, let's just get on and do it in a decisive way.
There has been some speculation about removing the zero-rate from certain categories of supplies - printed matter and children's clothing. Personally I don't think that this will happen. First of all, these would be very unpopular moves, especially for the press who benefit from the odd rules that allow zero-rating for newspapers and magazines but tax children's excercise books at 17.5%. But there is a more fundamental reason. Under the rules that applied when we joined the EU back in 1972, we are allowed to retain teh zero rates of VAT that were in force at that time. However once a supply has been removed from the zero rate, it can't be moved back. Successive chancellors have been very loath to tinker with this bit of our national VAT legislation as a result and I'd be surprised if it happens now.
But I could be wrong! Either way, have a happy summer solstice!
Marie