Cut in VAT, are we really saving any money?

With Gordon Brown announcing a 2.5% cut in VAT bringing it down to 15% from 17.5% are we actually saving any money? The answer is not really, if you’re buying large items or expensive items then there may well be a saving to be made. Don’t be fooled by the many emails from retailers that say there are huge savings to be made; you won’t actually be saving a significant amount of money. Buy only what you need and don’t let high streets and the big companies make a fool out of you.