Covid-19: VAT Reduction

Part of Treasury – in the House of Commons on 24th March 2020.

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Photo of Jesse Norman Jesse Norman The Financial Secretary to the Treasury

I thank the hon. Gentleman for his question. He will be aware that those businesses will fall under the VAT announcements that have already been made for the next quarter and that they are also already the beneficiaries of grants of £10,000 for the smallest businesses and of £25,000 for larger ones in the hospitality, leisure and retail sectors.