Looks like Greggs The Bakers has come out on top after the government's dramatic U-turn over the so-called 'pasty tax'. The share price of the UK's largest bakery - selling pasties, sausage rolls, pastries and freshly baked sandwiches - has soared by 6%.
The Chancellor George Osborne had upset outlets like Greggs and others nationwide over his desire to slap 20% VAT on hot, fresh-baked takeaway fare. The firm lobbied against it saying the move would hit their bottom line. VAT will be on food you from any outlet where it's kept hot or reheated, so you might end up paying more there. Labour has of course condemned the pasty tax turnaround. They called the reversal of the plans a 'total' shambles.
I'm Marverine Cole but you can keep up to date with the very latest on this story by looking at our website: ibtimes.co.uk