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SUMMARY:The Stimulus Effect of the VAT cut - an early assessment - Dr Tom 
 Crossley\, Faculty of Economics
DTSTART:20091030T170000Z
DTEND:20091030T180000Z
UID:TALK21216@talks.cam.ac.uk
CONTACT:Rachel Marston
DESCRIPTION:In late November 2008\, the UK government announced a temporar
 y cut in the VAT rate\, from 17.5% to 15%\, to run from December 1st 2008 
 to December 31st\, 2009. The aim of the policy was to stimulate household 
 spending. We review the economics of a Temporary VAT cut. We identify key 
 issues\, including the pass-through and salience of the tax\, and inter-te
 mporal substitution responses of households. We review what was known abou
 t these issues prior to the policy\, and hence what we thought the impact 
 would be. We provide some early empirical evidence on the impact of the po
 licy. Finally\, we sketch a research agenda going forward.
LOCATION:Winstanley Lecture Hall\, Trinity College
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