Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of extending the reduced 5 per cent VAT rate on ticket sales for live events for financial year 2021-22.

The temporary VAT reduced rate came into effect on 15 July 2020 and was initially scheduled to end on 12 January 2021.

In order to continue supporting the cash flow and viability of over 150,000 businesses and to protect 2.4 million jobs, the Government extended the temporary reduced rate of VAT (five per cent) to goods and services supplied by the tourism and hospitality sectors until 31 March 2021.

The Government keeps all taxes under review, and all stakeholder views are carefully considered. Any future decisions on tax policy will be made at Budget.