Issue 100
Public Support 12.5% Vat for Hospitality and Want Government to Support Sector’s Recovery www.CLHNews.co.uk
Just one in five (17%) say VAT should return to 20% in April , a new study by YouGov commissioned by UKHospitality, has revealed. The same research shows that the public also believes that the Government has a central role to play in the economic recovery of the hospitality sector. The representative study revealed the extent of the cost crunch with a colossal 92% of respondents saying their cost of living has gone up since before the pandemic, with two thirds of those adults (67%) saying they are cutting back on meals out as a result.
CLHNews
CLHNews
It revealed strong support amongst the public for VAT to remain at its current rate of 12.5% beyond April, a move that will help restrain rampant inflation, which is expected to peak at over 7% in the Spring. Excluding those who didn’t give a view, only 21% believe the Government should stick with its current plan to increase VAT in April for hospitality, with nearly half (49%) wanting the reduced rate to be retained long-term and 30% want an extension to the reduced rate.
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