These are difficult times for our high streets, and the Government is acting to support jobs and businesses across the UK. I have written to the Chancellor, Rishi Sunak, asking him to consider a two-tier system of VAT. Something I proposed a few years ago but sadly, due to being a member of the EU, we were unable to pursue.
A two tier system would enable high street shops to pay a reduced rate, and pass savings onto customers in our towns, helping to boost sales for many of the independent businesses we see in our area. This system could also help to offset the costs of a physical presence on our high streets.
Residents can read my letter to the Chancellor in full below, and I look forward to updating you as soon as I have received a response: