fromBusiness Matters
2 days agoBritain 'throwing away 2bn a year' after scrapping VAT break for tourists, Reeves told
Research by the Association of International Retail (AIR) and Global Blue shows that spending by non-EU visitors to the UK is stuck at just 75 per cent of pre-pandemic levels since the Conservatives axed the VAT exemption in 2021. By contrast, continental Europe has seen record surges in tourist spending. Visitors' outlays are up 166 per cent in Spain, 159 per cent in France and 137 per cent in Italy compared with pre-Covid levels.
UK politics