More than 250 hospitality leaders from businesses such as Wagamama, Hilton and JD Wetherspoons, push to keep VAT at 12.5%
A joint letter has been sent to Chancellor Rishi Sunak calling for the government to maintain the current level of VAT to enable businesses to continue their recovery, protect jobs and help stave off higher inflation in the economy.
Spearheaded by UKHospitality, Signatories include individual businesses, SMEs and multi-national organisations including Apex Hotels, BaxterStory, Bourne Leisure, Big Table Group, Caffe Nero, Center Parcs, Cote, Fuller’s, Greene King, Hilton, IGH Hotels and Resorts, JD Wetherspoon, Loungers, Marston’s, Mitchells & Butlers, Moto Hospitality, Nobu, Parkdean Resorts, Pho, Pizza Express, Pizza Hut, Punch Pubs, Revolution, Rekom, The Restaurant Group, The Savoy Hotel Group, Wagama and Young’s, plus many more.
The letter highlights the success of the 12.5% VAT rate applied for tourism and hospitality on food, accommodation and non-alcoholic drinks.
A major concern of the impact of the VAT rise, is that businesses will have no choice but to significantly increase their prices, further fuelling inflation.
The current rate of 12.5% is set to rise to 20% in April 2022.
Show your support to the #VATSENOUGH campaign here