Murdo Fraser welcomes Chancellor's Summer Statement
Scottish Conservative MSP Murdo Fraser welcomed the Chancellor’s summer statement, which he feels will provide a massive boost for hospitality and tourism in Perthshire and Fife.
The politician, who represents the Mid Scotland and Fife region, was reacting to the measures announced on July 8 in Rishi Sunak’s ‘UK Government’s Plan for Jobs,’ which will see a cut in VAT to 5% for goods and services supplied by the hospitality and tourism sectors; an Eat Out to Help Out scheme, which will encourage people to return to eating out by entitling every diner to a 50% discount of up to £10 per head on their meal and a Job Retention Bonus worth £1,000 for every furloughed employee who is kept on.
And the Chancellor also announced a landmark £2 billion Kickstart Scheme, which will create hundreds of thousands of new jobs for young people at risk of long-term unemployment.
Mr Fraser feels these measures will be very beneficial to hospitality and tourism in Perthshire and Fife and called on the Scottish Government to follow the Chancellor’s move to cut stamp duty.
Rishi Sunak revealed the threshold at which buyers would pay the levy would increase temporarily to £500,000.
Commenting, Mr Fraser said: “These announcements are just what is needed in Scotland and across the UK and will provide a massive boost for hospitality and tourism in Perthshire and Fife.
“The tourism industry is worth more than £10 billion to Scotland’s economy, and these measures announced by the Chancellor are vital to the economic recovery of hospitality and tourism in Perthshire and Fife.
“Thanks to the measures announced today, the Scottish budget will increase to £800 million.
“But we need the Scottish Government to amend its equivalent Stamp Duty scheme – Land and Buildings Transaction Tax (LBTT) – which is more punitive than the UK system.
“The Scottish Government need to take action to address this anomaly and match the Stamp Duty cuts south of the border.”