South Down MP Margaret Ritchie has criticized the government for failing to reduce the VAT rate for businesses that operate in tourism and hospitality. Ms Ritchie said: “The Irish Government took the positive step of cutting the VAT rate for the tourism sector to nine per cent to pump prime the market. They have had extremely encouraging results with receipts up and over 9,000 jobs created off the back of the measure. The reaction from the industry to the possibility of the rate returning to its old level shows just how effective this measure has been and how shortsighted it is for the UK Chancellor to reject such calls.
1st October 2013