Zut alors: Why London could lose £1.1 billion in fashion sales to Paris

The Telegraph

“These people – who mostly come from China and the Middle East – have contributed a huge amount to the British economy but will simply make the choice not to shop in the UK because it is less advantageous to them,” says Paul Barnes, the CEO of Association of International Retail. “We are now the only country in Europe offering no VAT rebate, so why would tourists not go to Paris instead, if they can save thousands of euros on luxury goods there and nothing here?”

Read the full article here.