Parliamentary launch for Campaign for Reduced Tourism VAT
The Campaign for Reduced Tourism VAT was officially launched at the House of Commons earlier today.
Hosted by the All Party Parliamentary Group for Tourism, the event provided an opportunity for members of the Campaign to directly address Parliamentarians with the evidence that a reduced rate of VAT on the tourism sector would be of benefit to the economy.
The Campaign presented its report, which assessed the impact a reduced VAT rate for tourism using the Government’s own economic model.
Speaking about the results Graham Wason, chairman of the Cut Tourism VAT Campaign said:
“The results are exciting and compelling. A VAT cut on visitor accommodation and attractions would have a triple whammy benefit. It would not cost the Government anything and would drive £4b of new revenue into the UK and create 80,000 jobs. This cut in VAT would benefit families and businesses all over the country.”
Kurt Janson, policy director at the Tourism Alliance, said:
“A study released last week by the Office for National Statistics shows that the tourism industry accounts for 9.1% of all employment in the UK and that the tourism industry was responsible for 33% of all new jobs created between 2009 and 2011.
“This highlights the fact that tourism is one of the UK’s few growth industries at the moment and has the potential to contribute significantly to both national and regional economies. Yet the UK tourism industry is at a significant competitive disadvantage to its European counterparts in that businesses pay full-rate VAT rather than the reduced-rate VAT that apply in almost all other European destinations.”
The Campaign for Reduced Tourism VAT is led by the British Hospitality Association (BHA), Merlin Entertainments, Bourne Leisure and the British Association of Leisure Parks, Piers and Attractions (BALPPA).
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