Cutting VAT would more than pay for itself – Margaret Ritchie MP
Margaret Ritchie, SDLP South Down MP and EFRA Select Committee member, spoke recently about the need to cut the rate of VAT in Britain and Northern Ireland. Citing lower rates in other European countries, Ritchie affirmed her support for the campaign as competition increases from abroad.
“The Rate of VAT in Britain and Northern Ireland far exceeds the rate paid in other European countries… high VAT is encouraging tourists to go elsewhere,” she said.
Cutting the VAT, of course, is more than just about attaining a level playing field with other countries. Ritchie suggests that, “this additional money could be spent in improving the transport and broadband infrastructure that tourist areas need to succeed.”
A reduction in the VAT would, in her estimation, be helpful for both businesses and tourists.
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