‘VAT reduction needed for tourism and hospitality’ – Ritchie
SDLP MP for South Down Margaret Ritchie has tabled a motion in parliament calling for a reduction in the VAT rate for the hospitality and tourism sector.
Speaking from Westminster, Ms Ritchie said: “The hospitality and tourism industry is critical for our economy. Hotels, pubs and restaurants are central to the economic and social life in my own constituency and across the North of Ireland.
“However in the current climate many of these local businesses are facing an extremely challenging economic environment. My parliamentary Early Day Motion (EDM) calls on the UK Chancellor to consider a sector-specific VAT cut for such businesses.
“Such measures have been deemed lawful by the EU and indeed have been adopted by several Member States including Ireland.
Ritchie added, “The Irish Government reduced the rate of VAT on a range of services connected to the hospitality and tourism sectors from 13.5% to 9 % to help support businesses and the wider economy in these difficult times, and I would urge the UK government to follow suit.
“As the EDM states such a move would encourage growth in the wider economy, support job creation and generate investment in local businesses at a time when this is urgently needed.”
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