“It is disappointing to see the retail export scheme added to the bonfire of mini-budget measures. It was a small change but would have been great for retailers. The UK operated a similar scheme while it was an EU member (the Retail Export Scheme for non-EU visitors) so the plan didn’t break new ground.
“However, if it had gone ahead the impact of VAT free shopping would have been a welcome boost to retailers but not enormous in the grand scheme of things. Given the crisis it is understandable the new Chancellor decided to stick to carrying through the National Insurance reversal and throwing away everything else.”
Heathrow predicts: ‘Further regression of high streets, shopping centres, ports and airports as we continue to lose out to our European competitors’
Sources:
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