Following this morning’s Spring Budget, where the UK Government failed to reverse its decision to scrap VAT-free shopping, 2.0 & Partners Senior Executive VP Marco Passoni issued this comment:
The so-called Tourist Tax has been a damaging blight on the UK’s finances and standing as a global retail centre for too long, and it is inconceivable that the government has passed up another opportunity to undo this terrible error.
Endless figures have showcased the very real damage this tax is doing, from the loss of millions of visitors, to costing the economy billions of pounds. As long as this foolhardy and ill-considered policy remains in place, the UK will continue to lose ground to neighbouring capitals and countries as tourists shun our shores for other who have a more attractive offer. Today’s decision is a failing by Jeremy Hunt and the government, there is no other way to put it. To err is human, to persist is diabolical…
