Currently, investments in physical Gold aren't subject to VAT but investments in physical Silver are. I'd like purchases of Silver Bullion to be treated the same as purchases in Gold Bullion and as such, VAT on physical Silver Bullion purchases to be abolished in the UK.
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In the past, Gold was also subject to VAT but this was changed because other countries in the EU didn't charge VAT. This meant that the UK was at a disadvantage compared with other EU member states.
The exemption meant that for VAT purposes, Gold would be treated the same as other investments, such as stocks and shares.
Currently the same situation is taking place with Silver where a number of countries including the USA, Canada and others don't charge VAT on purchases on Silver.