The JD Wetherspoons pub chain has announced that it will cut food and drink prices for just one day this week in a bid to reduce the tax burden on the hospitality industry.
Due to the impact of the Covid pandemic, a temporary VAT reduction for hospitality businesses was introduced by Rishi Sunak in October 2021, which was raised back to the usual 20% in April this year.
As reported by The evening standard, weather spoon Chairman, Tim Martin, said: “Taxes should be fair and just. It’s unfair that supermarkets don’t pay VAT on groceries while pubs and restaurants pay 20 percent.
“Pubs have been under enormous pressure for decades because of the tax disadvantage they have compared to supermarkets. Government is at its best when it doesn’t discriminate between different types of companies that sell the same products.”
That’s why we’re calling for another benefit for the hospitality industry weather spoon will drop their prices by 7.5% on Thursday 14th September.
This equates to a saving of 30p on a pint at any of the central London locations, or an overall saving of £2 for every average £27 spent at any of the 851 venues.
The evening standard also reported that taxes collected from VAT have risen by 60% over the past decade, with VAT accounting for a record 22% of HMRC’s total tax revenue.
https://www.theargus.co.uk/news/21368230.wetherspoons-cut-prices-one-day-week/?ref=rss Wetherspoons to slash prices for just one day this week