Government U-turn on VAT-free shopping is ‘hammer blow’ for UK retail

Jeremy Hunt

UK retail representative bodies have called the government’s decision to roll back promised VAT-free shopping a “hammer blow” for an industry still struggling to recover fully from the pandemic.

New chancellor Jeremy Hunt has rolled back many of the measures announced by his predecessor Kwasi Kwarteng at his mini-budget at the end of September, including cancelling the rise in corporation tax, the removal of the 45% top tax rate for high earners and the cut to the basic rate of income tax.

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