Posts tagged Spring Budget 2024
What we'd like to see in tomorrow's Spring budget for fashion and textiles

Tomorrow marks the announcement of the Spring Budget and what many anticipate to be the last fiscal event before the general election, which we’re pegging for Autumn. As such, this might be the final opportunity for the Conservatives to set policies prior to an election.

After collating both qualitative and quantitative data over recent months, in time to share our Sector Vision in Parliament, we have been advocating for a number of sector recommendations which we have presented cross-party.

Our recommendations encompass many facets of the sector from farming through to academia and are focused on the long-term, however there are two recommendations that we’d like to see taken up immediately in tomorrow’s budget.

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Photo: Photo by Ugur Akdemir on Unsplash. Image of Westminster buildings.

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Will the government U-turn on the VAT Retail Export Scheme?

After holding two key roundtables last week, we discuss one of the key findings being the effect of the end to the UK’s VAT Retail Export Scheme.

The unilateral decisions by the UK Government to end the lucrative VAT Retail Export Scheme, which Sylvie Freund-Pickavance cited as having the potential to generate £10bn in terms of sales, hospitality and tourism, was cited as a missed opportunity. This is something that Fashion Roundtable have been consistently lobbying on.

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