Cut Tourism VAT Chairman tells BBC News why it is important that the VAT reduction on hospitality is extended beyond 31st March
On the 28th January, BBC News South Today, which spans seven counties across the South of England, aired a new story on the effect of the pandemic on the hospitality industry and the benefit the reduction in VAT has had on securing the future of many businesses.
The news story featured the Andy Jones, the Manager of the River Hotel in Oxford, who described the devastating impact wreaked by the virus on occupancy rates in the hotel.
Dominic Hare CEO of Blenheim Palace explained how the tourism industry supported a wider eco-system as visitors to attractions also patronise local shops, restaurants, and bars.
Reporter Natalie Verney asked Cut Tourism VAT Chairman Graham Wason why he thinks the VAT reduction should be extended beyond March 31st.
Graham stated that “Those that are still trading need to have a bit of a breathing space to enable them to recover, to keep their staff, to pay staff and to begin to invest again in their businesses which have been sadly forced into a period of neglect through much of last year.”
Earlier this month the Cut Tourism VAT Campaign, in association with UKHospitality, the Tourism Alliance and the Association of Leading Visitor Attractions launched a report on the findings of a survey assessing the impact to date of 5% VAT on UK tourism and hospitality businesses.
With more than a thousand responses from tourism and hospitality businesses the survey showed that if the VAT rate reverts back to 20% in April 2021, there will be further cut-backs and job losses which the Campaign estimates could mean the loss of 310,000 jobs in hospitality and tourism.
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