Tourism Levy

Debate between Lord Livermore and Viscount Thurso

Monday 14th July 2025 Lords Chamber

[Viscount Thurso (LD)]

My Lords, I am sure that the Minister’s words will be greatly reassuring to the hospitality industry. However, in light of the important contribution that is made by the visitor economy to both wealth creation and jobs, can the Minister give the House an assurance that if any proposal were to be brought in, it would be for a fixed amount and not a percentage of room rate, that it would be modest and that it would be fully consulted on through DCMS? Further, given the heavy burden already being borne by the hospitality industry, will he study the example and possible mistakes of the Scottish system? I declare an interest as a former chair of VisitScotland.

[Lord Livermore (Lab)]

I cannot give the noble Viscount assurances on something we are not actually considering doing, so I am afraid I cannot give him what he wants. As he says, different places in different countries choose to raise revenue from overnight visitors in different ways, depending on whether they are seeking to attract them, accommodate the results of their visit, or deter them from coming—different scheme designs do different things. We have no present plans to introduce such a levy.

Sterling: Rise in Yields on 30-year Gilts

Debate between Lord Livermore and Viscount Thurso

Tuesday 14th January 2025 Lords Chamber

[Lord Livermore (Lab)]

If I may, I will correct the noble Baroness: UK gilt markets continue to function in an orderly way. Underlying demand for the UK’s debt remains strong, with a generally well-diversified investor base. The Debt Management Office’s gilt sales operations continue to see strong demand, with the latest auction, held earlier today, receiving three times as many bids as the amount on offer. The noble Baroness mentioned what we inherited, so she will be very aware that we inherited a £22 billion black hole in the public finances. We have taken very difficult decisions to deal with that, every single one of which has been opposed by her party.

[Viscount Thurso (LD)]

My Lords, what consideration have the Government given to the Bank of England’s current policy of fairly aggressive quantitative tightening? Do they feel that this is helpful in the current market? Should the Chancellor consider issuing a direction to the Bank on this issue?

[Lord Livermore (Lab)]

The Government support the Bank of England in the actions that it takes.