MPs calls for tourism VAT cut to give UK economic boost
Members of Parliament met with leading figures in the UK tourism industry including representatives of Merlin Entertainments, Bourne Leisure and the British Hospitality Association for a roundtable discussion on the future of the tourism industry should the sector receive the VAT cut it is calling for.
Cut Tourism VAT is a coalition of hotels and visitor attractions calling for VAT on tourism to be cut from 20% to 5% in the upcoming Budget. This will bring the UK in line with competitor destinations within the European Union, increase the competitiveness of regional tourism hotspots, generate more investment for regional businesses and support wider regeneration in these areas, and in the UK as a whole.
Caroline Lucas MP, Sir Roger Gale MP, Mark Williams MP, Margaret Ritchie MP, Hywel Williams MP, David Jones MP, Albert Owen MP and Adrian Sanders MP were some of the MPs who attended.
Nationally, cutting VAT would mean a £4billion boost to the UK economy, the creation of 120,000 jobs and delivering £3.9bn to the Treasury.
Graham Wason, Chairman of Cut Tourism VAT, said:
“International competition for tourism is increasing and the UK’s share of the global tourism market is declining. This is an extremely important issue and one that deserves to be discussed at the heart of Westminster. I am delighted that politicians of all parties were able to join industry leaders to discuss how an urgent cut in tourism VAT would boost the economy across the country.”
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