Hopes are rising that the government will reverse its decision to scrap VAT-free shopping.
Retail stocks lifted yesterday as ministers appeared to be reconsidering the decision. Nigel Huddleston, the trade minister, said the chancellor would consider the problem before his autumn statement.
Cadogan chief executive Hugh Seaborn said the government needed to “look at the broader picture and economic implications. The current position clearly risks endangering both jobs within the retail and hospitality industry as well as within cultural institutions, which, once gone, will be hard to replace.”
