I have signed a joint letter with other MPs calling on the Chancellor of the Exchequer, Philip Hammond MP, reduce VAT on tourism.
The Chancellor announced a review into the rate of VAT on tourism in Northern Ireland at the Spring Statement. This presents an opportunity for the Government to expand the review for the whole of the UK. If this cut went ahead it would go on to prove the economic case for a reduction in VAT on tourism across the entirety of the UK.
The letter is calling on the Chancellor to reduce VAT on tourism to 5% for tourism in Northern Ireland. In Northern Ireland alone, a reduction in VAT on tourism would generate £32 million over five years and £109 million over ten years. A reduction would also create 2,700 jobs over the same period. While the review is concentrated on Northern Ireland, reduction for the entire UK would produce £4.6 billion and over 100,000 jobs over ten years. Read more “Campaign to cut Tourism VAT”