Keep VAT at 5%
The East of England Arena and Events is joining in with the live music industry to ask the UK government to keep VAT on tickets at 5% for the next three years and supporting the #KeepVATat5 campaign.
Jason Lunn, venue director, said: “Our request of the chancellor is to support our industry during this crisis is to retain the reduced rate of VAT on ticket sales at 5% and not increase this back to 20%; to recognise that the increase in VAT will impact the entire ecosystem – the crews, the artists, venues and all employees – just when we need help to survive and recover the most, and to understand that increasing VAT by 400% at a time when the live music industry needs crucial support would be catastrophic for its recovery.”
“Right now financial support is vital to the survival of the live music industry and in backing these three simple steps, could be instrumental in making a difference.
More information is available on the LIVE website here https://livemusic.biz/campaigns/