Retailers fear London will not be able to compete with the likes of Paris and Milan
(Picture: AFP/Getty Images)Weeks after the decision to return VAT-free shopping for overseas visitors was declared “a great victory” by business leaders, a U-turn by the Chancellor announced today sees this plan scrapped.
The perk, which would allow tourists and other foreign visitors to claim back the 20 per cent VAT paid on purchases made in the UK, was scheduled to be reintroduced as part of former Chancellor Kwasi Kwarteng’s mini-budget delivered last month.
