Peter Aldous, MP for Waveney, is backing a national campaign to cut VAT on tourism from 20% to 5%, resulting in a £4 billion boost to the UK economy.  

 

Cut Tourism VAT is a coalition of hotels and visitor attractions (including Merlin Entertainments, InterContinental Hotels Group (IHG) and the British Hospitality Association) 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.

 

Independent research shows that this reduction would mean extra jobs and a £6.8m economic boost for Waveney. Nationally, cutting VAT would mean a £4 billion boost to the UK economy, the creation of 120,000 jobs and would deliver £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 supported and discussed by politicians at the heart of Westminster. I am delighted that Peter Aldous MP is supporting our call for and an urgent cut in tourism VAT which would boost the economy nationally and in Waveney.” 

 

Peter Aldous MP said:

 

“A reduction of VAT on travel and tourism from 20% to 5% would make a huge difference to Waveney, resulting in extra jobs and an additional £4.5m to the local economy. That’s why I’m backing the campaign to Cut Tourism VAT and am asking the Chancellor of the Exchequer give tourism in Waveney a well-deserved boost.”