pay meters will be forced to by law, the Chancellor warned. The cost of beer, wine and spirits is set to rise to help fund the cut in Value Added Tax. Budget Report took the biscuit. Budget report from politicians and our experts. As widely predicted, VAT will be reduced from 17.5pc to 15pc from next week. budget report statement this afternoon. "Some good bits, some very bad bits. Below are highlights from British finance minister Alistair Darling's pre-budget report to parliament. budget report does include a VAT cut from 17.5% to 15%. to-date with our live coverage of the pre-Budget report here. Budget report, the day of delivery is upon us.
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