ursulaerrington: #G20. Feeling on trading floor is that they understand why people are angry. Dont mind protests as long as it doesn’t get violent.

Umm do they live in a different world to the rest of us?  How about blowing all your money have having to be bailed out to the tune of trillions of pounds by the taxpayer?

He added: “You may think VAT is unimportant but at the end of every week a typical family has more than £5 extra in their pocket. That may not matter to the Tories. But that’s £275 a year, more money for everyone in the community, not just for the few that you support.”

Now let’s work this out shall we.

£5 x 52 weeks = £260

No wonder our finances are in a mess if he can’t do basic multiplication.  OK let’s give him the benefit of the doubt that he rounded the figures to make a nice soundbite.  To get £275 a year the calculation must be

£5.29 x 52 weeks = £275.08

OK why not say over £260?

But that works out^* that every person must spend approximately £11,000 a year on VATable goods per year, that’s a staggering £212 a week.  Seriously, are we to believe that everyone spends £212 a week on VATable goods?  Actually looking back at Gordon’s quote, he actually says MORE than £5 a week!

Are these the so called ‘Green Shoots’ that were mentioned the other day? That we’re all being given huge payrises so that we can spend £11,000 a year on VATable products?

* the linked calculator is for 13 months not 12 so calculations have taken into account spending over 12 months not 13