Nick Varney, chief executive of Merlin Entertainments, has warned it would be a disaster for tourism if the government increases VAT to 20%.
His comments come ahead of the new coalition government’s budget in two week’s time.
The comments of the boss of Madame Tussauds and Legoland joins a growing clamour of opposition from the leisure and retail industries regarding such a hike. The British Retail Consortium has also cautioned that such an increase would lead to 160,000 job cuts and have a “deep and long-lasting impact” on the economy.
