Cut Tourism VAT

Cut tourism VAT, boost british jobs

News

Sunday, 09 December 2012

Open letter to Chancellor of the Exchequer gains national media coverage

Graham Wason, Chair of the Campaign to Reduce Tourism VAT was one of ten industry leaders who signed the open letter to the Chancellor urging him to reduce the level of VAT.

The letter noted that the Treasury’s own models demonstrated a reduced rate of VAT would be revenue neutral and contribute £4 billion each year to the UK economy. It also highlighted research by Deloitte which shows that such a reduction would create 80,000 jobs.

European rules allows for the EU national governments to apply a reduced VAT rate on their tourism sectors but the United Kingdom is one of only four EU countries which doesn’t take advantage.

Nick Varney, chief executive of Merlin Entertainments and leading member of the Campaign, told the Daily Telegraph “The Government talks all the time about [supporting] industries like technology and bio-technology but at the end of the day, while they are important, they are long-term. We are big employers, particularly of young people.”

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