Labour 's Tories unveils poster warning Ed Balls will hike VAT again . Osborne used first Budget in 2010 to increase rate from 17.5 % to 20 % . Chancellor insists his plans to balance books do not require new increase . But he repeatedly refused to match Labour 's promise ahead of election .
Labour 's Ed Balls unveils poster warning Tories will hike VAT again . Osborne used first Budget in 2010 to increase rate from 17.5 % to 20 % . Chancellor insists his plans to balance books do not require new increase . But he repeatedly refused to match Labour 's promise ahead of election .