Shops to sneak prices up under VAT increase guise
This VAT increase is probably going to kill us all. Things are going to be so expensive that we're going to have to cut off pensioners' limbs, because they're the only things dry enough for us to set fire to in a bid to stay warm. Besides, that lot have had a good innings.
To make matters worse, it seems that UK companies are planning on using the January's VAT increase to raise their prices, according to research from bean-counters KPMG.
Bitterwallet has long been on the trail of companies bumping up prices in the name of VAT, and nowWhich! report that shops and manufacturers are the most likely to bump up the price of stuff, hoping that no-one will notice amid the confusion of a VAT rise.
Someone called Sarah Dennis from Which! says: "To add to pricing confusion following the VAT hike, shops also have until 1 February 2011 to adjust their prices on the shelf. This means that the price displayed on the tag may not be what you're asked to pay at the till. Try to have an idea of what you expect to pay - and don't be afraid to double check that the price is correct."
Around 60% of retailers are looking at raising their prices by more than the 2.5% VAT increase, which is clearly a massive kick in the balls for everyone. 40% of financial services and utilities intend to do the same.
Happy new year everyone.