Duty-free shopping in the UK will be reintroduced for overseas visitors, the country’s new chancellor announced on Friday.
Tourists will soon be able to claim all value-added tax paid on goods in plans unveiled by the government.
Shoppers used to be able to reclaim the taxes before they left the country at airports and refund agencies.
But former chancellor Rishi Sunak scrapped the rebate in December 31, 2020, despite fears it would cost 40,000 British jobs and £1 billion ($1.12bn) of investment.
Speaking in the House of Commons to announce the new government’s mini-budget, Kwasi Kwarteng said the move would benefit British retailers.
“Britain welcomes millions of tourists every year and I want our high streets and airports, our ports and our shopping centres to feel the economic benefit,” he said.
“So we have decided to introduce VAT-free shopping for overseas visitors.
“We will replace the old paper-based system with a modern, digital one.
“This will be in place as soon as possible. This is a priority for our great British retailers, so it is our priority too.”
Industry experts welcomed the move, saying British retailers have been lobbying for a reinstatement of the rebate for two years.
"The government's reversal on tax-free shopping in today's mini-budget is a huge relief after nearly two years of lobbying with the retail sector for this," said Hugh Seaborn, chief executive of Cadogan, a property manager, investor and developer based in Chelsea.
"International visitors are fundamental to London and the UK's recovery, and we now have a level-playing field alongside other European cities that never ceased to offer this incentive.
"We are firmly back on the map as an extremely attractive destination and unbeatable once more in terms of a heady mix of culture, heritage and fantastic shopping."
The rebate is among a series of measures announced on Friday, designed to break the “cycle of stagnation” in the British economy.
They include a cut in the basic rate of income tax to 19p from April 2023 and the abolishment of the top rate of tax for higher earners.
The government also lifted the cap on bankers’ bonuses, raised the threshold for stamp duty to £250,000 and reversed an increase in National Insurance.
"We need global banks to create jobs here, invest here and pay taxes here in London — not in Paris, not in Frankfurt and not in New York," Mr Kwarteng said.
"We are securing our place in a fiercely competitive global economy, with lower rates of corporation tax and lower rates of personal tax."
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Global state-owned investor ranking by size
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China
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UAE
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Japan
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Norway
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Canada
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Singapore
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South Korea
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Results
1. New Zealand Daniel Meech – Fine (name of horse), Richard Gardner – Calisto, Bruce Goodin - Backatorps Danny V, Samantha McIntosh – Check In. Team total First round: 200.22; Second round: 201.75 – Penalties 12 (jump-off 40.16 seconds) Prize €64,000
2. Ireland Cameron Hanley – Aiyetoro, David Simpson – Keoki, Paul Kennedy – Cartown Danger Mouse, Shane Breen – Laith. Team total 200.25/202.84 – P 12 (jump-off 51.79 – P17) Prize €40,000
3. Italy Luca Maria Moneta – Connery, Luca Coata – Crandessa, Simone Coata – Dardonge, Natale Chiaudani – Almero. Team total 130.82/198.-4 – P20. Prize €32,000
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
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Sheikh Zayed's poem
When it is unveiled at Abu Dhabi Art, the Standing Tall exhibition will appear as an interplay of poetry and art. The 100 scarves are 100 fragments surrounding five, figurative, female sculptures, and both sculptures and scarves are hand-embroidered by a group of refugee women artisans, who used the Palestinian cross-stitch embroidery art of tatreez. Fragments of Sheikh Zayed’s poem Your Love is Ruling My Heart, written in Arabic as a love poem to his nation, are embroidered onto both the sculptures and the scarves. Here is the English translation.
Your love is ruling over my heart
Your love is ruling over my heart, even a mountain can’t bear all of it
Woe for my heart of such a love, if it befell it and made it its home
You came on me like a gleaming sun, you are the cure for my soul of its sickness
Be lenient on me, oh tender one, and have mercy on who because of you is in ruins
You are like the Ajeed Al-reem [leader of the gazelle herd] for my country, the source of all of its knowledge
You waddle even when you stand still, with feet white like the blooming of the dates of the palm
Oh, who wishes to deprive me of sleep, the night has ended and I still have not seen you
You are the cure for my sickness and my support, you dried my throat up let me go and damp it
Help me, oh children of mine, for in his love my life will pass me by.
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
MATCH INFO
Inter Milan 1 (Martinez 18' pen)
Juventus 2 (Dybala 4', Higuain 80')
HOW TO WATCH
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