(1 year, 5 months ago)
Commons ChamberThe Government’s objective is to halve all inflation, which would take that into account. I do not have the number off the top of my head and I do not know what the Bank of England’s prediction for that is.
(6 years, 7 months ago)
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I thank the right hon. Gentleman for that intervention. I agree that we have an opportunity to be a lot more positive about Brexit.
The hon. Gentleman mentioned the possibility of varying VAT once we have left the European Union, but is he aware that 25 members of the European Union currently vary VAT on the tourism industry? In France, for example, it is only 9% for a hotel or a tourist attraction. It would be possible today for the UK Government to vary VAT on the tourism sector.
I have no reason to doubt the hon. Lady. That was not my understanding, but I will definitely look into that.
To conclude, we can be exceptionally proud of our creative and tourism industries in this country. I fully understand the concerns put forward by hon. Members as a result of Brexit, but I gently suggest that perhaps erring too much on the side of caution and pessimism is not necessarily the way to go. We are a world leader in this area, and that will not disappear overnight—far from it. The Government rightly speak about building a new global Britain after Brexit. Why not build it on the back of our sensational creative talent and beautiful destinations?