West End retailer say that they have lost rivals such as Paris and Milan (Matt Alexander/Pa) (Pa Wire)
Managing directors have renewed their attraction to the ministers in order to restore VAT for foreign tourists who argue that the economy will provide an increase of £ 3.7 billion.
A submission of the Association of International Retail (AIR) shows that the scrap would bring the so -called “tourist tax” into the unique position of offering 450 million EU consumers and those from the rest of the world 20% discounts.
This would create a “huge new market” and make the London “The Global Shopping Capital”. The discount is not available for consumers in other member countries in other member countries.
Rishi Sunak scrapped VAT in 2021 at the time of Brexit when the advantage for buyers of the EU would have been made available to Great Britain for the first time.
The paper from the air claims that a turnaround of each region would benefit from the awakening of economic growth. The new EU market alone would create at least 73,000 new jobs.
Hundreds of business leaders, including chiefs in Paul Smith, Heathrow, John Lewis, Bicester Village, Mulberry, The Royal Opera House, Shakespeares Globe, Fortnum & Mason, Claridge, Boodles, Pragnell, Faberge and the Hippodrome Casino, which now calls the guideline.
They argue that as well as in London retailers, the entire tourist industry is affected, including hotels and restaurants, taxis, galleries and museums as well as regional centers as well as craftsmen and luxury manufacturers.
Fortnum & Mason is one of the companies that demand a statement on tax -free shopping for foreign visitors (PA).
The air submission was presented to the Department of Culture, Media and Sport, which is preparing a new growth plan for visitor management, which is expected to start this autumn.
It warns that international visitors are increasingly driven into the arms of the British rivals by the lack of VAT discounts. It quotes new numbers that show that in Great Britain the recovery of tourism after the kovise was weaker here than elsewhere in Europe.
In Great Britain, visitors had recovered to 96 percent of their level for 2019 last year, compared to 101.9 percent in Spain and 100 percent in France.
The figures for tourist expenditure are even stronger: in Great Britain, expenditure last year was 92 percent of the level for 2019, compared to 106 percent in Spain and 110 percent in France. Some British buyers are also increasingly avoiding local branches and buy articles while traveling to the EU, where they can now claim a reimbursement of the reimbursement of majority.
In the air, it calculates that the expenses for the purchases of VAT-free EU shopping visitors in Great Britain in 2024 would have been at the same level as British VAT expenses in the EU that there would be additional expenses of at least 3.65 billion GBP.
This would be ended by an estimated 1.5 billion GBP at annual expenditure of non-EU visitors who were rejected to France, Spain, Italy and other tax-free destinations as VAT discounts.
Based on the measure of the British retail consortium, that a job is created for every retail expenditure for 50,000 GBP, the introduction of a new VAT reimbursement directive for EU visitors could create at least another 73,000 jobs throughout the UK.
Derrick Hardman, Chairman of Air, said: “With Great Britain, no longer in the EU, we have the opportunity to become the best place in the world for shopping.
“While the 26 EU countries, including those from Great Britain, buy with additives, Great Britain is now in the unique position of being the only large European country in which this attraction could also be offered to all 450 million EU residents.
“This would give Britain an undisputed competitive advantage in Europe. In addition to the competitors of the EU competitors who offer all non-EU visitor, Great Britain would have the unique opportunity to create a completely new, purchased EU tourism market.
“This would be additional visitors who would spend additional money in hotels, restaurants as well as for travel, culture and entertainment, all of which generate additional VAT for the state treasury.
“The government was supposed to work with the industry to again look for the effects of VAT shopping on the economy and the exchange in order to invest a new, fully digitized, tax-positive program for all international visitors in order to support a quick economic growth throughout the Great Britain and to promote the investment in retail, hospitality, leisure, culture and transportation create.
Sir Rocco Forte, chairman of Rocco Forte Hotels, said: “It is clear that retail and other business have suffered greatly from the last government thanks to the end of tax -free purchasing.
“We see it with customers in our hotels that used to be loaded with packages. Now they spend less time with us and go into Paris or Milan.
Hotelier Rocco Forte headed the government for rethinking (Bloomberg via Getty Images)
“This is a big goal that could quickly correct and promote the economy and the workplace market.
“Restoring tax-free purchases also offers a significant opportunity for Brexit, since the United Kingdom could save a new market of 450 million EU consumers outside the EU.
“Great Britain has to pull every lever to promote economic growth, and this should be at the top of the list.”
Michael Wainwright, Chairman of the Luxury Schmuckmark Boodles, said: “We would encourage the government to consider this urgently, since all independent analyzes show that a new tax-free purchase program thanks to the additional expenses that are stimulated throughout the economy, not only in retailers, hotels, restaurants, attractions for tourists, attractions, taxes and social affairs.
“It would also mean that Britain would be the only place in Europe where EU buyers could buy tax-free-a great opportunity for our economy.”
Andrew Hinds, Chairman of F Hinds The Jewelers, said: “VAT discounts are only a small part of the total editions, but not a mental block that leads to customers taking their business elsewhere. If a tourist chooses a different country for their shopping trip, Great Britain does not collect taxes from them, and also not that our business and the employees spend on them while spending on them while they are here.
“This applies in our big cities and tourist locations, but also in the entire country as a whole, as many visitors come to family and friends.”
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