In response to the decision of the Chancellor of the Exchequer, Rt. Hon. Jeremy Hunt MP, to authorise the Office of Budget Responsibility (OBR) to review the return of tax-free shopping for international visitors, Charles Begley, Chief Executive, London Property Alliance said:

“Central London’s economy is proving resilient but its success cannot be taken for granted. By ending tax-free shopping for tourists the Government has put London at a serious disadvantage to its European rivals with our analysis indicating visitor numbers and overall spend are declining, which adds to the pressure on our shops, restaurants, cafes and theatres. The impact is also being felt across other UK cities that have worked hard to attract more international visitors. We have long called for a formal review of the economic impact of ending tax-free shopping and welcome reports that the OBR will report on this in the coming weeks.”

Further Reading:

Submission: Representations to the Spring Budget 2024

Press Release: London Property Alliance calls for reinstatement of tax-free shopping as part of growth plan for central London