The London Chamber of Commerce and Industry (LCCI) has put forward a series of proposals for the Chancellor, John Healey, to consider in the upcoming Budget. These suggestions aim to support businesses by removing existing barriers.
Among the recommendations is the reintroduction of VAT-free shopping for international visitors. The LCCI argues this would help London compete with other global cities for tourist spending and benefit retailers, hospitality businesses, and the wider visitor economy.
The LCCI also suggests giving large shops in England and Wales more flexibility on Sunday trading hours, moving beyond the current six-hour restriction. Additionally, a targeted employer National Insurance exemption is proposed for businesses hiring young people who are not in education, employment, or training (NEET).
Further proposals include a five-year listing holiday for companies newly listing in London and incentives for companies to move their primary listing to the city, aiming to strengthen London's position as a financial centre.