Funny that as that's exactly what it was being marketed as, unless I misinterpereted all the press releases about it?
Also, it probably harmed the cash flow of more businesses than helped them out. Doing a VAT change isn't a simple matter of just adjusting a figure and that's that, do you not think it costs money for business to change all their IT systems, reprint all their price lists and change their advertising. Way to go to help out the small businesses out there!!!
The VAT drop is the typical knee jerk solution from the current establishment, they certainly haven't looked at the bigger picture with this so called solution.