Cut Tourism VAT

Cut tourism VAT, boost british jobs

News

Monday, 07 January 2013

Reducing Tourism VAT would help achieve Government 2020 ambition for exports

The Campaign for Reduced Tourism VAT has highlighted the potential of the tourism sector to help achieve the Government’s target of doubling exports to £1 trillion by 2020.
In its Mid-Term Review, published today, the Government stated it would use “every means at [its] disposal” in order to achieve the export target.

The tourism industry is the UK’s sixth largest export earner, generating over £20 billion (including fares to UK carriers) each year from overseas visitors. Reducing tourism VAT to 5% would not only encourage more domestic holidays, but help boost overseas visitors thus reducing the UK’s imbalance of tourism payments.

Graham Wason, Chair of the Campaign for Reduced Tourism VAT said: “The tourism sector is a key industry the Government needs to work with to succeed in doubling our national exports. Reducing VAT on accommodation and attractions would not only create jobs but help boost our exports with an increased numbers of overseas visitors.”

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