Knight Hails VAT Cut on Tourism
East Yorkshire MP Sir Greg Knight has welcomed the Chancellor’s decision to cut the rate of VAT on tourism from 20% to 5% to help the industry bounce back from the COVID-19 crisis.
Following a campaign earlier this year from Sir Greg and other MPs representing tourist areas, the Chancellor Rishi Sunak MP has announced a slash in the VAT rate to 5% for the next 6 months.
Sir Greg says: “In East Yorkshire, the tourism and hospitality sector have been hardest hit by the shutdown. I have been calling for this stimulus to boost UK tourism and encourage people to take holidays in places like Bridlington or the Wolds, rather than spending their money abroad”.
Sir Greg has also welcomed the added bonus of the “Eat out to help out” scheme which will also give UK diners up to 50% off their meals out from Mondays – Wednesday in restaurants, cafes and pubs, throughout August.
“Now the lockdown is eased and restaurants, pubs and cafes are made COVID-safe and observing social distancing requirements, it’s time to get Britain’s tourism industry back to business. There are no better ways of incentivising Brits to take their holidays in the UK than by making them cheaper. I am pleased that the Chancellor’s announcement today shows he agrees”.
Sir Greg added: “There is no doubt that this package of benefits will be welcomed by the industry and help to save jobs in East Yorkshire and across the country”.