Afzal Khan
Main Page: Afzal Khan (Labour - Manchester Rusholme)Department Debates - View all Afzal Khan's debates with the HM Treasury
(2 years, 6 months ago)
Commons ChamberMy hon. Friend will know that we have already made a significant input to support those in the hospitality and tourism industries. He will know that we extended the 5% reduced rate of VAT for those sectors to the end of September. On 1 October, we reduced the rate to 12.5%. That relief has cost the Government and the taxpayer more than £8 billion. Although all taxes are kept under review, there are no plans to extend the 12.5% reduced VAT rate.
The hon. Gentleman is right to point out the measures that we can take to strengthen the powers against money laundering and illicit crime. Those measures require legislation, as he knows. Although I cannot pre-empt the Queen’s Speech, he should know that I, the Home Secretary and others strongly support the inclusion of the economic crime Bill, which contains those measures.