Written question asked by Earl of Liverpool (Conservative) on Tuesday, 21 February 2023, in the House of Lords. It was due for an answer on Tuesday, 7 March 2023. It was answered by Baroness Penn (Conservative) on Tuesday, 7 March 2023 on behalf of the Treasury.
Retail Trade: VAT
- Question
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To ask His Majesty's Government whether they will carry out a detailed cost-benefit analysis of tax-free shopping which also takes account of the potential benefits to the wider economy of removing such taxes.
- Answer
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The independent Office for Budget Responsibility (OBR) published their assessment of the withdrawal of the previous VAT-free shopping schemes in November 2020. This showed that the withdrawal of VAT-free shopping would raise a significant amount of revenue and have a limited behavioural effect on decisions to visit, or spend, in the UK. The Treasury remains confident in the OBR’s analysis.
Secondary information
- Type
- Written question
- Reference
- HL5762
- Session
- 2022-23
- Subjects
- Cost benefit analysis Economic situation VAT Retail trade
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2023-05-17 11:53:12 +0100
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/lords/2022-23/HL5762
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/lords/2022-23/HL5762
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/lords/2022-23/HL5762