EU Withdrawal: Tourism and Hospitality Industries

Lord Pearson of Rannoch Excerpts

Monday 18th April 2016 Lords Chamber

[The Earl of Courtown]

My Lords, I am aware of the public position of many of the tourist trade bodies. As the noble Lord, Lord Lee, mentioned, UKinbound has come out publicly to support remaining in the EU; 84% of its members believe that staying in the European Union is important for their business.

[Lord Pearson of Rannoch (UKIP)]

My Lords, does the Treasury not estimate that the pound might fall in the early stages of Brexit, which would be helpful to our tourism industry? When our economy inevitably strengthens later, will our elected Government not be able to lower our VAT rates, to the advantage of our tourism and other industries?