The Labour Party has called on the government to introduce a temporary VAT cut to help the UK's high street retailers.
Labour wants VAT reduced from 20 per cent to 17.5 per cent in order to get more people spending. It estimates the move would put an extra £450 into the average family's pocket and as a result, help to relieve the pressure on retailers.
Jack Dromey MP, Labour's shadow local government minister, said: "We need to put the heart back into Britain’s high streets. Labour wants to give communities a real say over the future of their high street and the power to make the changes they want.
"One of the things I hear from my constituents is how the character of the local high street has changed. The high street is not what it once was, they say. And I know many other MPs hear the same – we want to put that right."
A large number of retailers have been promoting discounts to try and bring customers in.
Last week The Federation of Small Businesses called for "targeted and time specific VAT cuts". The organisation wants to see VAT in the construction and tourism industry slashed to 5 per cent to help promote growth.
