Tourism VAT

Waveney MP Peter Aldous has this week written to the Chancellor urging for a cut in the rate of VAT on tourism to 5%.
 
This follows a Westminster Hall debate last month on ‘VAT and the tourism sector’, in which MPs called on the Government to protect the tourism industry from the perspective of economy and jobs. Tourism is a vital industry in the UK providing 10% of GDP and supporting over two million jobs.
 
Mr Aldous’ letter which conveyed the concerns expressed to him by his constituents, pointed out that British tourism businesses and the communities they operate in, are struggling under a VAT rate which is twice or more the rate in Spain, Germany, France, Ireland and Italy. The UK is now one of only four EU states with no reduced rate. 
 
Research by Professor Adam Blake has found that by decreasing the rate of VAT to 5% for tourist accommodation and attractions, GDP gains would be generated at a low cost to the Treasury. In addition, Deloitte and Tourism Respect have predicted that such a reduction would contribute an extra £2.6 billion to HM Treasury over ten years and create 80,000 jobs.
 
Mr Aldous commented:
 
“Cutting VAT on tourism would make a real difference to local businesses and help create jobs for people in the Waveney area. A reduced tax rate would give British tourism the necessary competitive advantage to both boost the sector and make tourist attractions more affordable to entice people to take their holidays in the UK.”
 

Surgeries

Peter holds regular surgeries at various locations in the constituency. Please call 01502 586568 to make an appointment.

Next Surgeries - 2018:
Lowestoft, Thursday 4th January
Beccles, Saturday 3rd February

 

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