Found: High Streets (Designation, Review and Improvement Plan) Bill
Found: extension to the 75% business rate relief for eligible retail, hospitality and leisure properties for
Mentions:
1: Drew Hendry (SNP - Inverness, Nairn, Badenoch and Strathspey) more cuts.The Bill fails business and industry, too. - Speech Link
2: Nickie Aiken (Con - Cities of London and Westminster) and leisure sectors, which will benefit the UK economy as a whole.While I fully support the Bill and - Speech Link
3: Peter Aldous (Con - Waveney) the Government and industry cannot be overemphasised. - Speech Link
Mar. 27 2024
Source Page: The National Minimum Wage Beyond 2024Found: Sport, Leisure and Recreation Chapter 4 : What are the policy options for apprentices?
Mar. 26 2024
Source Page: Whole of Government Accounts, 2021-22Found: Business Interruption Loan Scheme , Recovery Loan Scheme and Coronavirus Large Business Interruption
Mar. 19 2024
Source Page: Report launched into UK's IP-backed finance landscapeFound: industry and advisors; and providing targeted support to SMEs to improve their IP management.
Mar. 06 2024
Source Page: Spring Budget 2024Found: extension to the 75% business rate relief for eligible retail, hospitality and leisure properties for
Mar. 06 2024
Source Page: Spring Budget 2024Found: extension to the 75% business rate relief for eligible retail, hospitality and leisure properties
Found: Fiscal support for tourism and hospitality in coastal areas
Asked by: Marquess of Lothian (Conservative - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what steps they are taking to assist the hospitality industry in the UK, following both the coronavirus pandemic and cost of living crisis; and what consideration they have given to reducing VAT to 10 per cent for the hospitality industry.
Answered by Baroness Vere of Norbiton - Parliamentary Secretary (HM Treasury)
Since the start of the pandemic, over £37 billion has been provided to the tourism, leisure and hospitality sectors in the form of grants, loans and tax breaks.
The Government announced a package of business rates support at Autumn Statement 2022 which means businesses in the retail, hospitality and leisure sectors, including pubs, will receive a tax cut worth over £2 billion in 2023-24. The UK also has a higher VAT registration threshold than any EU Member State and the second highest in the OECD, which keeps most businesses out of the VAT system altogether.
VAT is the UK's third largest tax forecast to raise £161 billion in 2023/24, helping to fund key spending priorities such as important public services, including the NHS, education and defence. The previous VAT relief for tourism and hospitality cost over £8 billion and reintroducing it would come at a significant further cost.