Earl of Clancarty
Main Page: Earl of Clancarty (Crossbench - Excepted Hereditary)
Baroness Penn (Con)
My Lords, our understanding is that the benefit from the VAT RES flows almost entirely to two places: central London and Bicester Village. High streets across the country need our support during the pandemic. That is why we have the future high streets fund of £675 million, and the towns fund, supporting 100 towns with £3.6 billion of funding.
The Earl of Clancarty (CB)
My Lords, which business leaders and sector bodies support the decision to end the scheme?
Baroness Penn (Con)
My Lords, the Government conducted a public consultation on the future of the scheme in which we took into account the views of business leaders and those within the sector. We also did our own analysis and had to weigh up the costs of extending the scheme against its potential benefits.