Cut Tourism VAT

Cut tourism VAT, boost british jobs

News

Wednesday, 03 March 2021

March 2021 Budget response – the case for a permanent reduction in hospitality VAT has never been stronger

The Cut Tourism VAT Campaign says that the Chancellor’s decision to extend the reduction of VAT for hospitality and tourism businesses to 5% by a further six  months will help the industry start to get back on its feet and begin trading again but increasing it back up in October to 12.5% does not solve the problem.

The case for a permanent reduction in hospitality VAT has never been stronger given the positive impact it has had on pricing, investment as well as safeguarding and creating of jobs during the pandemic. We will therefore be making our case to the Chancellor that he needs to show his long term support for a post-COVID hospitality industry by keeping a permanent low rate of VAT on hospitality businesses beyond the time frame outlined in today’s budget.

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