Could an emergency VAT cut save the economy? The evidence is equivocal

Former chancellor Alistair Darling tried it in 2008 and thinks Rishi Sunak should follow suit, writes James Moore

There was a rush when English shops first reopened but footfall was still down on the year (PA)

The reports that Rishi Sunak, the chancellor, is considering an emergency VAT tell you he’s worried. He’s right to be.

English shops opened their doors last week, but after an initial rush that gave media types something to write about for a day or two, things slowed down.

Footfall was still sharply down (57 per cent) when compared to the previous week last year as per the British Retail Consortium.