retailers welcome return of vat free shopping for tourists but urge action on business rates

Retailers welcome return of VAT-free shopping for tourists, but urge action on business rates

Sumary of Retailers welcome return of VAT-free shopping for tourists, but urge action on business rates:

  • It comes after the UK’s new chancellor Kwasi Kwarteng revealed a mini-budget on Friday to reinvigorate the country’s struggling economy.
  • It included the return of VAT-free shopping for tourists, something the retail industry had been urgently calling for since it was scrapped at the commence of last year.
  • Helen Dickinson, the chief executive of the British Retail Consortium (BRC), also welcomed the news, but said the budget lacked any mention of a business rates reform.
  • Grosvenor Property UK chief executive James Raynor welcomed the sensible re-induction of tax free shopping for tourists which he said would allow us again to challenge more effectively with Paris and Madrid and provide a much needed boost to the economy.

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