Hywel Williams MP calls for tourism VAT cut
Hywel Williams MP calls for tourism VAT cut to give an economic boost of £166m for Wales
Arfon MP Hywel Williams has joined leading figures in the UK tourism industry in the Houses of Parliament in calling for an £4 billion boost to the UK economy.
He attended an event organised by Cut Tourism VAT, which is a coalition of hotels and visitor attractions calling for VAT on tourism to be cut from 20% to 5% in the upcoming Budget.
Hywel Williams MP met with leading figures in the UK tourism industry including representatives of Merlin Entertainments, InterContinental Hotels Group (IHG) and the British Hospitality Association for a roundtable discussion on the future of the tourism industry should the sector receive the VAT cut it is calling for.
This will bring the UK in line with competitor destinations within the European Union, increase the competitiveness of regional tourism hotspots, generate more investment for regional businesses and support wider regeneration in these areas.
Independent research shows that this reduction would mean over5,500 extra jobs and a £166m economic boost for Wales. Cutting VAT would also mean a £4 billion boost to the UK economy, the creation of 120,000 jobs and delivering £3.9bn to the Treasury.
Graham Wason, Chairman of Cut Tourism VAT, said:
“International competition for tourism is increasing and the UK’s share of the global tourism market is declining. This is an extremely important issue and one that deserves to be discussed at the heart of Westminster. I am delighted that Hywel Williams MP was able to join industry leaders to discuss how an urgent cut in tourism VAT would boost the economy.”
Hywel Williams MP said:
“A reduction of VAT on travel and tourism from 20% to 5% would make a huge difference to Wales, resulting in over 5,500 extra jobs and an additional £166m to the Welsh economy. That’s why I’m backing the campaign to Cut Tourism VAT and am asking the Chancellor of the Exchequer give tourism in Wales a well-deserved boost.”