London ‘losing out to Paris and Milan’ over tax-free shopping says Burberry finance boss

LONDON, ENGLAND - DECEMBER 22: Shoppers hold bags in Westfield Shopping centre in West London on December 22, 2012 in London, England. Today is the final Saturday before Christmas. (Picture: Getty)

An end of tax-free shopping for foreign visitors means London is haemorrhaging well-heeled tourists in favour other European capitals, the finance boss of luxury brand Burberry has said.

Burberry CFO Julie Brown said the scheme “was a real incentive to come to the UK for the luxury shopper and now what we’re finding is those tourists are coming to other European cities like Milan and Paris.