The long-awaited Oasis reunion tour is expected to deliver more than just nostalgic songs; it is expected to provide a significant boost to the British economy, a move that could be beneficial for the Labour Party.
According to Paul Haywood-Schaefer, senior director at audit and consulting firm Blake Rothenberg, the excitement surrounding reunions can generate significant economic activity, boosting both the national and local economies.
Highlighting the wider impact of the tour, Haywood Schaefer said: “These events don’t just benefit the band and promoters through ticket sales; they generate significant revenue across a range of sectors. From merchandise and travel to hotels, bars and restaurants, the ripple effect is far-reaching, creating jobs and supporting businesses directly connected to the concerts.”
The tour is set to attract fans from around the world, with shows scheduled in Cardiff, Manchester, London, Edinburgh and Dublin, bringing new spending power to these cities. Local economies will benefit from the influx of visitors, who are likely to spend on accommodation, food and entertainment, providing a welcome economic boost.
“When it’s all done, the Treasury will take its share of VAT on sales, corporation tax on profits, income tax and national insurance from the wages and profits of the self-employed,” Haywood-Schaefer added. “This is great news for Keir Starmer and Labour, especially given the timing after the election.”
In a comparison with Oasis’s previous association with New Labour, Haywood-Schaefer noted that “Noel Gallagher helped significantly boost Tony Blair’s government during the ‘Cool Britain’ era. Now, indirectly, he is giving a boost to Keir Starmer – not by attending Downing Street parties, but by making a positive contribution to the economy through this meeting.”
With the Oasis reunion set to be one of the biggest cultural and economic events of the year, the financial benefits to the Treasury could be something to celebrate. “Given the expected economic impact and benefits to HMRC coffers, Noel Gallagher certainly deserves Starmer’s thanks!” concluded Haywood-Schaefer.
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