Chancellor Rishi Sunak will end VAT refunds for international visitors to British shops from January 1, even as the high street is fighting for its survival after the Covid-19 crisis. Dozens of businesses and MPs have warned that 40,000 high street jobs will be lost as wealthy tourists divert their spending to rival European countries such as France and Italy. The row comes as high street chains fight to recover after a torrid year that will see 20,000 shops close and 235,000 retail jobs lost. Chancellor Rishi Sunak will end VAT refunds for international visitors to British shops from January 1 as part of Brexit, which could see 40,000 jobs lost warn businesses and MPs. Heathrow Airport said the decision to end duty-free shopping could cost tens of thousands of jobs in the aviation industry.

Source: Daily Mail December 05, 2020 00:55 UTC