Just heard a bit of the BBC reporting of Andy Burnham's cut in VAT on energy bills - it was all about what it would 'cost', and whether this would have to be 'paid for' by raising taxes or borrowing.

It again seems not to have occurred to any of the political journalists that a lot of the people benefiting from this cut in VAT might not save it, or spend it all on non-VATable purchases, but actually go out and spend it precisely on other things that do incur VAT.

Or they might pay down some of their credit card debt - saving future interest that would be extracted from them into the already wealthy City of London - thus creating more money in circulation in local economies - and more government tax take...