There is always a surprise and this will be it today. Raising VAT is a crap idea, pushing up inflation just as it is about to come down and affecting the least well off the most. Surely when reality strikes this is one that will be billed as the 'look what we have not done, how generous are we to the plebs' moment.
That is my guess - come back in 2 hours to see if I was wrong.
UPDATE - FAIL. They did it...