It has now been five years since the UK lost parity with other international shopping destinations. While visitor numbers have largely recovered, spending has not kept pace – with non-EU visitor spend still just 75% of 2019 levels, compared with 166% in Spain, 159% in France and 137% in Italy.

The Labour Government is looking for credible, evidence-based policies that deliver growth, jobs and visible economic impact. This creates an opportunity to present a forward-looking proposal that can restore the UK’s competitiveness in the global visitor market.

That is why we will work to reframe the debate from “bring it back” to “build it better” – focusing on a system that boosts spending, supports jobs and demonstrates measurable fiscal benefit – and expanding the coalition beyond retail to include hospitality, culture, transport, manufacturing and airports. We’ll work not only in London but with regional partners nationwide under one shared tourism-growth agenda.

Our work will build on the credible evidence already established which has consistently demonstrated the economic value of international visitor spending. Our goal is to design a modern scheme built in partnership with Government and industry. In practice, that means a digital and accessible model that is fiscally sound, easy to use, transparent, and designed to support jobs and investment across the whole visitor economy.

Over the coming months, we will commission independent economic modelling to test alternative options. A credible, modern solution – built in partnership with Government and industry – could unlock billions in visitor spend and new tax revenue, sustain jobs across retail, hospitality, culture, transport and manufacturing and strengthen “Brand Britain” internationally.

This is about growth, fairness and renewal ensuring Britain remains a world-leading destination for retail, culture and tourism.