Mr Balls drew MPs' attention to previous U-turns on changes to the rules governing tax relief on charitable giving, and imposing VAT on static caravan sales and hot takeaway food.

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In recent years, areas where the relationship has been strained include the loss of Low Value Consignment Relief, which allowed certain items to be sent to UK VAT-free, the ending of reciprocal health agreements and the clampdown on tax evasion, the latest move being announced in the UK budget.

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Despite increasing consumption taxes like VAT (value-added tax), the informal economy can still provide relief through various markets and bazaars.

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