- Tourism Minister Richard Lochhead has written to the UK Government calling for a reduction in VAT to support Scotland’s tourism and hospitality sector.
- Farms and crofts in Scotland attract over 1.5 million visitors annually through agritourism.
- Lochhead describes the tourism and hospitality sector as vital to the economy, accounting for 8% of jobs and 9% of businesses.
- He suggests that a reduced rate of VAT for the sector could boost business viability and stimulate demand.
- The Deputy First Minister and Cabinet Secretary for Finance, Shona Robison, has also included this request in her pre-budget correspondence to the Chancellor.
- The UK has one of the highest VAT rates for tourism in Europe, with some countries having rates as low as 9%.
- Tourism businesses are estimated to add £3.4bn in gross value added to the economy.
Source: thescottishfarmer.co.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
