Oral Answers to Questions — Finance – in the Northern Ireland Assembly at 2:30 pm on 2 July 2024.
Obviously, VAT is a reserved matter. My officials engage regularly with their counterparts in Treasury. We have made the case on many occasions, and will continue to make the case, that, for example, we should have the ability to reduce VAT for hospitality and tourism. We are in the particular circumstance of having competition from the South, where businesses are at an advantage.
I thank the Minister for her answer. I am pleased to hear that there is ongoing engagement. I have a particular concern about the taxi industry. In 2014, there were 16,000 taxi licences in operation, but that number was down to 7,500 at the beginning of this year. The taxi industry is worried about VAT changes and what those will mean for the industry, because they could result in operators going out of business or drivers not entering the industry.
Is there a question?
I encourage the Member to write to me on that issue. I will then share that with officials so that we can take a look at it and include it in the ongoing consultation that they have with their counterparts.