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Everyone gets stimulated, and someone will have a very, very Happy New Year

Scathing comments from leading retailers have dashed Alistair Darling’s hope that economy will be stimulated by cutting VAT from 17.5% to 15%.

"The change will be administratively expensive, do nothing to stimulate demand and leave few feeling any better off,” said Next chief executive Simon Wolfson in a letter to The Times.

“One leading retailer said yesterday that the small cut would have ‘almost zero impact’ on sales,” said The Guardian.

But happily for The Chancellor, sex toy retailer LoveHoney.co.uk has a better idea: we’re not going to reduce our prices by 2.13%, we’re going to let someone Win The VAT Back!

LoveHoney customers are already enjoying great bargains like our best-selling Jessica Rabbit Vibrator, which at £24.99 is already £20 cheaper than a similar model available in the high street. Taking an extra 2.13% off would save just 53p – hardly that stimulating for our customers or the economy.

So instead, in December, LoveHoney.co.uk is going to put all the money that individual customers would have saved if we'd reduced our prices in a pot and in January one LoveHoney customer will win the whole lot - a hefty five-figure sum.

Now that’s what we call a stimulus, Darling!

“In the context of LoveHoney's already low prices and free delivery, we don't think individual customers would notice the savings if we reduced prices by tuppence ha'penny here and half a groat there,” said LoveHoney Director Richard Longhurst. “So the biggest stimulus we can give is to put all the VAT savings into a pot and let one lucky LoveHoney customer win the lot. Everyone gets stimulated, and someone will have a very, very Happy New Year.”

-ends-

Find our more about LoveHoney's Win The VAT Back Competition at www.lovehoney.co.uk/vat.

For further information please contact Ruth Wilkinson on
01225 318881 or ruth@lovehoney.co.uk

This press release was distributed by ResponseSource Press Release Wire on behalf of Lovehoney in the following categories: Men's Interest, Leisure & Hobbies, Women's Interest & Beauty, Business & Finance, Media & Marketing, for more information visit https://pressreleasewire.responsesource.com/about.