So what do you think of the 14.29 per cent increase in VAT?
Yes, that's (2.5 ÷ 17.5) x 100 = 14.28571
VAT has risen by two and a half percentage points, but not "by two and a half per cent".
Roll of shame:
- "The 2.5 per cent rise in VAT is immediate." The Times' editorial, today
- "The 2.5 per cent increase in VAT is the wrong tax rise at the wrong time for hard-pressed families, Ed Miliband, the Labour Leader, will say today." Daily Telegraph, yesterday
- "The 2.5 per cent increase is predicted to raise an extra £13 billion a year for the Treasury." Daily Telegraph, 16 December
- "The first hit is the 2.5 per cent increase in VAT on 4 January." The People, 4 December
- "There will be a 2.5 per cent increase in the rate of VAT to 20 per cent." Evening Standard, 12 November
And, while I'm at it, call me pedantic but what does Ed Miliband mean by "the wrong tax rise at the wrong time"?
Does he mean there is a better time for the wrong tax rise? Maybe even an optimum time for the wrong tax rise? But wouldn't that make it really rather a good tax rise for that particular moment?
More from the College of Journalism on accuracy with numbers here.
