Tourist Spending: VAT - Question

Part of the debate – in the House of Lords at 3:17 pm on 24 May 2023.

Alert me about debates like this

Photo of Lord Hannan of Kingsclere Lord Hannan of Kingsclere Conservative 3:17, 24 May 2023

My Lords, there seems to be a discrepancy between the Treasury figures quoted by my noble friend the Minister and almost every independent survey, including the one referred to by the noble Earl, Lord Clancarty. There is a persistent pattern of the Treasury refusing to take into account the secondary, more dynamic impact of taxes—the way in which lower rates can generate more economic activity. Does my noble friend the Minister think that it might be time to revise the way in which the Treasury does these forecasts, to take account of our observed experience?