Sustainability is a three legged stool comprising of economic, social and environmental spheres, as a sustainability practitioner I am inclined to be biased to the latter two issues. The increase in value added tax (VAT) to 20% may be a blessing in disguise to the environment by controlling rampant consumption but this leaves the other legs of the stool i.e. the economic and the social a little bit weak..
The present UK coalition government pledged to be the greenest government ever despite having to tackle a large fiscal deficit. The rise in VAT will contribute £13 billion revenue into HM Treasury but it will also mean a reduction in disposable income. The other alternatives were income tax increase which by nature rise with income or an increase in National Insurance which may yet happen in the Spring of 2011.
Sustainability also embraces the concept of our impact on future generations, therefore I agree with attempts by the present government to tackle our burgeoning debt as I am not one to pass the buck or the budget to my son's generation. I think I may just consult him for his views on the rise in VAT, I forgot he is playing on his new Wii games console.... I guess its time for me to call my Dad fortunately he is Canadian...
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