While all businesses have been affected to some extent by covid-19, some of the worst hit have been the pubs, restaurants, cafes, bars, and hotels that make up the hospitality industry. When they have been able to open, many have had to implement costly and disruptive practices to mitigate the virus.
Cutting VAT for the hard-hit hospitality sector will support jobs, boost footfall, keep down the cost of living and help the economy bounce back.
- Extending the temporary VAT cut of five per cent, introducing it for the sale of alcohol on trading premises, and having it in place until April 2023 could save the UK hospitality sector and consumers £15.7 billion across this financial year and next.
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