‘Chancellor must cut VAT on tourism’ – Ritchie

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Friday, September 26th, 2014
SDLP South Down MP Margaret Ritchie has repeated the call that the rate of VAT on tourism products should be cut immediately by the UK government to encourage more people to visit the stunning sights and scenery in the north of Ireland. Ritchie says she has ‘relentlessly lobbied’ for a reduction on VAT on tourism she believes would bring enormous benefits for tourism in the North; and has raised the matter with the UK Chancellor. “A cut would create jobs, especially for young people, and provide an immediate boost to our local community and the entire regional economy. In the South the reduction of VAT on tourism products to 9% has created 15,000 jobs and increased visitor numbers by 20%,” said Ritchie. “We need a competitive rate in the North so that we can benefit from the incredible visitor opportunities located across this island. We have a strong North-South tourist market and no visitor should be put off coming here because of an excessive tax rate on tourism products enforced by the treasury in London. She added, “I look forward to getting support from, and working with local businesses to make this case. The Chancellor of the Exchequer in London needs to deliver for our tourism industry. This is a progressive tax cut, that would be revenue neutral and would create jobs and support local businesses.”
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