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VAT reduction ‘needed to invigorate tourism sector’

The British Government’s rejection to reduce VAT for the tourism and hospitality sector highlight a need for the transfer of Fiscal powers to the Assembly. Newry and Armagh MP Conor Murphy has said. Mr Murphy was part of a Sinn Fein delegation that met with the Treasury in London recently to discuss the issue but said they were left disappointed as the Treasury made it clear it had “no intention to introduce a VAT cut for the sector.” Mr Murphy said his party will continue to push for “full fiscal powers in the hands of locally elected and accountable elected representatives.” He said: “A reduction in VAT on products and services in the tourism and hospitality sector is needed to harmonise rates across Northern Ireland. There is growing evidence that  reducing the rate on VAT on products and services in the tourism and hospitality sectors has a positive impact on the wider economy.It is something that should be introduced as a matter of urgency to invigorate the tourism sector by making it more affordable. During the debate ahead of the Scottish Referendum there was a focus on the prospect of additional financial powers for Scotland particularly fiscal powers. It is now up to the Westminster parties to fulfil the commitments made to the Scottish people. Sinn Fein will also be seeking the transfer of full fiscal powers to the Assembly.”


Newry Democrat

30th September 2014