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Fortnum Mason Boss Hits Out Over Tourist Tax (view source)
Revision as of 16:22, 11 February 2021
, 16:22, 11 February 2021Created page with "Fortnum & Mason boss Ewan Venters<br>Government plans for a 'tourist tax' on international visitors could wipe billions from spending in Britain, [https://www.kynghidongduong..."
Fortnum & Mason boss Ewan Venters<br>Government plans for a 'tourist tax' on international visitors could wipe billions from spending in Britain, [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-giang-cao-nguyen-da-dong-van-3-ngay-2-dem.html tour hà nội hà giang] experts have warned.<br>The tax will hammer London's West End - already the area worst hit by the sharp downturn in shop visitors during the pandemic - and could cost at least £2billion across retail, hospitality and other industries.<br>The removal of the tax-free loophole to help fill Treasury coffers, which comes into force on January 1, will mean tourists will be unable to claim back VAT when they leave the country.<br>Fortnum & Mason boss Ewan Venters said: 'I am flabbergasted by the Government's lack of commercial nous and the lack of nuance with this move.<br>'It is predicated on the ridiculous statement from the Government that said visitors are not price sensitive. <br>'Well, I am sorry, [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-giang-cao-nguyen-da-dong-van-3-ngay-2-dem.html tour du lịch hà giang] that is fundamentally wrong.'<br>Paul Barnes, chief executive of the [http://en.wiktionary.org/wiki/Association Association] of International Retail, [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-giang-cao-nguyen-da-dong-van-3-ngay-2-dem.html tour hà giang 3 ngày 2 đêm] said long-distance tourists who travel from places such as China - which puts £1billion into shop tills - may instead skip Britain and head to Paris where the loophole remains.<br> RELATED ARTICLES [# Previous] [# 1] [# Next] [/money/markets/article-8994447/Fortnum-Masons-boss-blasts-crazy-plan-cancel-duty-free.html Fortnum & Mason's boss blasts Government's 'crazy plan' to...] [/money/markets/article-8852935/Dont-end-duty-free-brands-tell-Chancellor.html Top luxury brands warn Chancellor that axing duty-free sales...] [/money/news/article-9036369/Sunak-blasted-ending-tax-free-shopping-international-visitors.html France and Italy will be 'rubbing their hands with glee':...] [/money/news/article-8987291/Chancellor-warned-foreign-shoppers-desert-UK-duty-free-axed.html Chancellor warned foreign shoppers will ditch UK for France...] Share this article Share He said: 'Non-EU visitors spend around £18billion a year in the UK.<br><br>Only £3billion is on shopping, which you could call a 'loss leader', but the remaining £15billion is VAT-able.<br>'Yet the Treasury has admitted that it only looked at shopping, not the wider impact on the economy.'<br> Tourist attraction: Fortnum & Mason in London<br>
