PRESS RELEASE

Holiday let tax repeal will boost Borders tourist industry - Moore

Michael Moore MP

25-Jun-2010

Local MP Michael Moore has welcomed the Chancellor’s decision to repeal tax plans by the previous Government that would have hit the tourism industry in the Borders.

In the Budget statement earlier this week, the Chancellor of the Exchequer announced the scrapping of an increase in the tax payable on furnished holiday lettings (FHLs). Industry experts had warned that the tax hike, which was first suggested in 2009, could have led to more than 4,500 job losses across the UK.

Commenting, Mr Moore said:

In areas such as the Borders where tourism is an important part of the local economy, it is clear that Labour's planned tax hike would have put additional pressure on jobs at a time we can least afford it

At the end of the last Parliament, I worked with colleagues to ensure that the Labour Government could not force through this tax hike before the General Election. I am pleased that the coalition Government was able to scrap these unwelcome proposals entirely.

This Budget was always going to be challenging, but despite the difficult circumstances it was important that we protected the most vulnerable and created the right conditions for growth. The measures set out in the Chancellor's speech did just that and the decision to scrap the FHL tax rules will provide the tourism industry in the Borders with a real boost.

ENDS

---