A piece of cake

I was talking to my fellow train commuters the other day — a diverse lot but with a shared love of the occasional party on the train weekend country walks etc. — when the subject of VAT came up. 'That sounds interesting' said one raising her eyebrows and getting a laugh. 'Now as it happens.' I said 'VAT just might be the most interesting tax.'

I could see they were going to take some convincing.

My first point was to correct the common misconception that it is only adults who pay tax. With VAT on CDs computer games and toys a proportion of little Tarquin's pocket money is also helping to fill the Treasury coffers.

Perhaps the problem is that VAT while it touches virtually all of us on a daily basis is almost invisible as far as the...