When is a 0.5% VAT increase the cause of a 4% price increase? Isn’t this the kind of problem we knew was going to happen? Greedy businesses will start using the new 0.5% VAT increase as a further excuse for screwing even more money out of the Irish consumer.
The company with the dubious honour of being the first we’ve been told who’ve announced this kind of underhanded price rise this morning is Eurolink Motorway Operations Ltd.
The toll for the cars using the M4 this morning when from €2.70 to €2.80, as they put it:
Due to the increase in the rate of VAT, from 21% to 21.5%, effective from 1st December, as announced by the Government on Budget Day 14th of October, our prices will rise from the 1st December.
That’s a 4% rise in price – 8 times what should have been the case with the 0.5% VAT increase.
Have you noticed anyone else sneaking in these price rises in the name of the VAT increase?