HM Treasury set to be big benefactors of Oasis’ announcement of a new tour

The Oasis reunion tour is expected to boost the UK economy and provide a financial lift for Labour, as fans flock to cities across the nation, say experts from Blick Rothenberg. Read more: HM Treasury set to be big benefactors of Oasis’ announcement of a new tour

Sep 1, 2024 - 11:09

HM Treasury set to be big benefactors of Oasis’ announcement of a new tour

The Oasis reunion tour is expected to boost the UK economy and provide a financial lift for Labour, as fans flock to cities across the nation, say experts from Blick Rothenberg.

The much-anticipated Oasis reunion tour is set to deliver more than just nostalgic hits; it’s expected to inject a significant boost into the UK economy, a move that could prove beneficial for the Labour party.

According to Paul Haywood-Schiefer, Senior Manager at audit and advisory firm Blick Rothenberg, the fervour surrounding the reunion gigs will generate substantial economic activity, bolstering both national and local economies.

Haywood-Schiefer highlighted the broader impact of the tour, stating, “These events don’t just benefit the band and promoters from ticket sales; they generate substantial revenue across various sectors. From merchandise and travel to hotels, bars, and restaurants, the ripple effect extends far and wide, creating jobs and supporting businesses directly linked to the gigs.”

With planned stadium shows in Cardiff, Manchester, London, Edinburgh, and Dublin, the tour is set to attract fans from around the globe, bringing fresh spending power into these cities. The local economies will benefit from an influx of visitors, who are likely to spend on accommodation, food, and entertainment, providing a welcome economic lift.

Haywood-Schiefer added, “When all is said and done, the Treasury will take its cut through VAT on sales, Corporation Tax on profits, and Income Tax and National Insurance from wages and self-employed earnings. This is great news for Keir Starmer and the Labour party, especially given the timing post-election.”

Drawing a parallel with Oasis’s past association with New Labour, Haywood-Schiefer noted, “Noel Gallagher famously helped boost the profile of Tony Blair’s government during the ‘Cool Britannia’ era. Now, indirectly, he’s providing a boost for Keir Starmer—not by attending parties at Downing Street, but by contributing positively to the economy through this reunion.”

As the Oasis reunion promises to become one of the year’s most significant cultural and economic events, the financial windfall for the Treasury could indeed be something to celebrate. Haywood-Schiefer concluded, “Given the expected economic impact and the benefits to HMRC’s coffers, Noel Gallagher should ‘Definitely, Maybe’ receive a thank you from Starmer!”