DUP MPs have supported a motion in Parliament which calls on the Chancellor of the Exchequer to reduce the VAT rate for goods purchased in store.
Gregory Campbell MP who tabled the motion said,
“As we look at ways to help regenerate the economy now that the lockdown continues to be wound down the Chancellor has an opportunity to help consumers at the same time as helping the High Street.
Retailers across society have been facing higher costs and reduced margins for several years, the online boom has made things even more difficult and then in March the virus lockdown brought high street trading to a temporary stop altogether.
Now that the beginnings of normality have started to emerge, a VAT reduction would help shoppers, assist on street traders as well as help those same traders bring some more life to high streets across the UK. We hope the Chancellor will grasp the initiative to help in this potential new beginning.”
Reduce VAT rates for on street shopping
That this House notes the unprecedented downturn in on-street retail shopping due to Covid-19, calls upon the Chancellor of the Exchequer to radically reduce VAT rates for items purchased in store, which would offer much needed assistance to high street retailing in the face of the substantial increase in online shopping which has occurred since March 2020.