Question to the HM Treasury:
To ask Her Majesty's Government, following the introduction of Plan B COVID-19 restrictions, whether they will cancel the planned VAT rise on cultural exhibition and event tickets.
All taxes are kept under review, but there are no plans to extend the 12.5 per cent reduced rate of VAT. This relief has cost over £8 billion. Applying a reduced rate of VAT for a longer period would impose additional pressure on the public finances, to which VAT makes a significant contribution.