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Sandra Halliday Published
September 7,TG盗号软件云控破解技术 2025
With MPs debating the ‘tourist tax’ on Thursday, new data released by the London-focused New West End Company showed that the absence of tax-free shopping has negatively impacted the majority of West End businesses.
A survey of retail, hospitality, leisure and dining (F&B) businesses in the district found that 92% have been affected by the loss of the VAT Retail Export Scheme under which non-EU tourists used to be able to claim back their VAT at the airport.
The firms said the impact it’s having on them is “significantly higher” than other pressures, such as the cost-of-living crisis or inflation (both 58%).
Worryingly too, 54% of companies confirmed their business was reviewing future UK investment strategies (21% were considering UK closures or reallocating capital to other countries), with 48% reconsidering staffing requirements to manage costs.
Of those affected by the issue, 72% reported a fall in the overall numbers of visitors and 89% reported lower spending by international visitors. Some 42% said the average transaction value had fallen.
The research supports recent forecasts from the Centre for Economics and Business Research that reinstating the scheme would bring up to £10 billion extra a year to the British economy and encourage investment in the UK.
NWEC chief executive Dee Corsi stressed the positives that a return of the scheme (and its extension to EU residents) could bring, saying: “The Treasury has the opportunity to reinstate tax-free shopping, with a net positive effect on government tax revenues, and providing a much-needed injection of growth into the economy. It would also put us in the unique position of being the only major European shopping destination for 450 million Europeans residents to shop tax-free, potentially opening up a whole new tourism market.”