Commons Sense

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Covid-19 VAT Reduction 2020-03-24

2020-03-24

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Questions & Answers

Q1 Direct Answer
Owen Thompson SNP
North East Fife
▸ Context
The Chancellor announced a deferral of VAT payments worth more than £30 billion for UK businesses affected by the outbreak. Additionally, grants and loans have been provided to support businesses through the crisis.
Scottish National party Members welcome the actions that have been announced so far by the Chancellor to support the economy during this outbreak. Given the particular strain felt by sectors such as hospitality, will the Minister consider reducing the VAT rate they are charged, in addition to the deferrals already announced?
Jesse Norman
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.
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