BREXIT

[mtread]

I just like to point out that before we had VAT we had the much more complicated and costly to administer Purchase Tax. 

VAT replaced Purchase Tax and Selective Employment Tax (SET). To be fair VAT is probably more costly and certainly more complicated than PT. However VAT brings in a lot more revenue than PT ever did, even allowing for inflation. But of course that is why Income Tax and Corporation Tax rates are so low. VAT is making up the difference, paying for NHS, Defence, Education etc etc.
There I go, sucking the joy out of everything with my specialist subject