Mr. Tim Fenn:

I thank the Chairman and the Senator. I take the opportunity to reiterate that the 9% VAT rate is vitally important. Across Europe there are 18 countries with a VAT rate of 9% or less. It is the right rate for this country. If we are to recover our industry and be competitive internationally, and we are not a low cost economy, it is vitally important that the Government recognises the requirement to leave the 9% VAT rate in place until at least 2025.