Nobody has suggested that there would be a VAT reduction for the wealthy.
Read this:
One of the 'Canons of taxation' developed by Adam Smith said that a tax should be linked to 'ability to pay'. VAT does not tie in with this because the amount of VAT on a particular good will be the same for everyone, however much they earn. This means that VAT is regressive. In other words, the more people earn the less the proportion of their income they pay in tax. Regressive taxes will hit less-well-off people harder than the better-off.
from: http://www.bized.co.uk/virtual/economy/policy/tools/vat/vatth2.htm
