|
News Index
Next
Previous
The Forum of Private Business (FPB) has called for MPs to support an Early Day
Motion seeking to close a VAT loophole affecting many small retailers.
The motion has been introduced by Andrew Love MP, chairman of the All-Party
Parliamentary Small Business Group.
The loophole, which has been exploited by retail giants such as Amazon, Tesco
and HMV, allows individual goods with a value of less than £18 to be imported to
the UK from the Channel Islands without the imposition of VAT.
The FPB’s campaigns manager, Victoria Carson, stated: "Firms that sell goods
such as DVDs and CDs from UK high streets are being driven out of business
simply because they cannot compete with their rivals' artificially low prices."
Although chancellor Gordon Brown promised to look into the issue in his March
2006 budget speech, any evidence of action has yet to be seen. As a result, the
FPB is urging MPs to sign up to Mr Love’s EDM and increase pressure on the
government to restore a fair trading climate for affected retailers.
Mr Love, the Labour MP for Edmonton, said the current state of play is
unacceptable: "This EDM is about the creation of a level playing field for
independent retailers.
"At present there is a small number of larger companies abusing the system and
as a result, threatening the jobs and livelihoods of many employees up and down
the country; this must not be allowed to continue."
Source:
RedAlert
|
