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Vat’s enough of that

South Down MP Margaret Ritchie has challenged Chancellor George Osborne to provide more support for local businesses that face increased red tape over VAT accounting for imports. Speaking in the House of Commons the SDLP MP said: “The Chancellor has made it a virtue of claiming to be supporting small and medium sized businesses. However no attempt seems to have been made to review the current approval criteria to create a simplified import VAT accounting scheme. I am regularly told by local business people that the current arrangements are a major impediment for imports and there is need for urgent reform. It was worrying that the chancellor did not seem to be aware of this problem and I eagerly await his letter in response to my question. The Chancellor may think he has ended the recession bur that is not the message I am getting from local businesses that are crying out for more measures to encourage growth,” Ms Ritchie said.


Newry Democrat

17th September 2013