MP Bob Seely said: “It’s good and important news that the Chancellor has announced the reduced 5% VAT rate for the tourism and hospitality industry will remain in place until 31 March. This is much needed good news for many Isle of Wight businesses and something that I have been telling ministers we need. I’m glad the Chancellor has listened and is taking action.
 
“In general, we need a measured approach to this dreadful virus, one that protects the vulnerable without destroying the life chances of the young. I think the Government is working towards a better balance.
 
“I will be discussing the Chancellor’s statement today with the Island’s business community to seek their feedback and I will continue to make sure that their voices are heard in Westminster.”