The return of VAT-free shopping will boost Britain’s towns and cities
Britain has so much to offer. It is no surprise that more than forty million overseas visitors choose to visit our country every year. Walk down Bond Street in London or Princes Street in Edinburgh and you will see visitors from around the world drawn to some of our most iconic retailers. Our high streets [...]
The Conservative Party is set to restore VAT refunds for eligible visitors to Britain, a move that could significantly boost the country's economy. This announcement comes as visitor spending remains 8% lower in real terms since the pandemic, with many tourists opting to shop in cities outside the UK due to cheaper prices. The next Conservative government aims to compete with other European destinations by allowing British retailers, hotels, restaurants, and attractions to thrive.
Leading figures such as Sir Rocco Forte, Tom Athron, and Angela Hartnett OBE have expressed support for this plan. According to independent research by Cebr, fully restoring tax-free shopping could attract up to 2.35 million additional visitors, generating £4.1 billion in extra spending and creating an additional tax revenue of £1.56 per £1 refunded to tourists.
This initiative follows recent announcements to scrap stamp duty on primary home purchases and relieve high street shops from business rates. The Conservatives believe that cutting taxes, reducing bureaucracy, and lowering energy costs will help businesses succeed and grow the economy, creating much-needed jobs for future generations.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
