The change, however, may not be as intended. Soon, the area could be a beneficiary of two plans announced by the chancellor, Kwasi Kwarteng, yesterday: the return of duty-free shopping to high streets and the scrapping of the 45% income tax band.
Trailing out of Selfridges with the store's yellow bag dangling from her arm, Rita Waters, 66, welcomed Kwarteng's mini-budget While, as a British citizen, the VAT tax change won't alter her shopping habits, she welcomed the decision to scrap the additional tax band on those whose annual income over £150,000.
"And it will filter down," said Waters, who is retired. "It will filter down to the people who don't pay tax. Maybe they'll have more money in their pocket."
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