Chancellor warned scrapping tax-free shopping risks 70,000 jobs



a store filled with lots of food: Photograph: Alamy Stock Photo


© Provided by The Guardian
Photograph: Alamy Stock Photo

UK retailers, hoteliers and airport chiefs have warned the chancellor that scrapping tax-free shopping for international tourists has put 70,000 jobs in jeopardy.

Earlier this month the Treasury said that the retail scheme, which enables non-EU visitors to reclaim VAT paid on their purchases, would finish at the end of December. The Treasury says it is making use of the end of the Brexit transition period to bring personal duty and tax systems in line with international norms.

The move has caused a huge storm in retail and tourism circles with Marks & Spencer, Selfridges and the owners of high end designer outlet mall Bicester Village among the business putting their names to a letter urging the chancellor to think again.

Other signatories include the bosses of major airports including Heathrow, Gatwick and Birmingham.

The decision will leave Britain as the

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SoftBank’s Arm sale hits a snag as UK opposition party warns of risks

SAM YEH | AFP | Getty Images

The U.K.’s opposition Labour party said this week that an Arm takeover is not in the public interest and criticized the ruling Conservative Party for failing to protect the British chip designer — often hailed as one of the nation’s most innovative firms — from overseas predators.

Arm’s chips are used by companies around the globe to power millions of electrical devices. Apple uses them in iPhones and iPads, while Amazon uses them in Kindles, and car manufacturers use them in vehicles. The company has 6,000 staff globally and 3,000 of those are in the U.K.

Ed Miliband, the shadow business secretary, warned that an Arm takeover by a Silicon Valley firm would ultimately lead to U.K. jobs moving overseas.

A government spokesperson said that Downing Street monitors proposed acquisitions closely. “Where we feel a takeover may represent a threat to the UK,

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India’s Gen Z Risks Getting Left Out of Formal Jobs, Study Says

(Bloomberg) — India has been struggling with an unemployment problem and the coronavirus pandemic is making it even more difficult for its youngest workers to earn a decent living, shows an analysis by the London School of Economics.



a river running through a city: A pedestrian wearing a face mask crosses an empty road near the Chhatrapati Shivaji Maharaj Terminus (CSMT) during a lockdown imposed due to the coronavirus in Mumbai, India, on Monday, June 1, 2020. Despite a strict two-month-long lockdown, the outbreak in India’s financial capital has snowballed, with the city now accounting for nearly a quarter of India’s more than 4,700 deaths and more a fifth of India’s over 165,000 infections.


© Bloomberg
A pedestrian wearing a face mask crosses an empty road near the Chhatrapati Shivaji Maharaj Terminus (CSMT) during a lockdown imposed due to the coronavirus in Mumbai, India, on Monday, June 1, 2020. Despite a strict two-month-long lockdown, the outbreak in India’s financial capital has snowballed, with the city now accounting for nearly a quarter of India’s more than 4,700 deaths and more a fifth of India’s over 165,000 infections.

Workers in cities in the age group of 18 to 25 years were already much less likely to be in formal jobs and more likely to be employed informally and paid less, wrote Shania Bhalotia, Swati Dhingra and Fjolla Kondirolli,

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