Rishi Sunak made the announcement in the Commons today in a move to help rescue thousands of job in the struggling travel and tourism sector. Mr Sunak said: “Today I am announcing two new measures to get sectors moving and protect jobs.
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VAT TAX CUT: Rishi Sunak cuts VAT from 20% to 5% for entertainment …
“First, at the moment VAT on hospitality and tourism is charged at 20 percent.
“I’ve decided for the next six months to cut VAT on food, accommodation and attractions.
“Eat-in or hot takeaway food from restaurants, cafes and pubs, accommodation in hotels, BnBs, campsites and caravan sites, attractions like cinemas, theme parks and zoos – all these and more will see VAT reduced from next Wednesday until January 12 from 20 percent to five percent.
“This is a £4billion catalyst for the hospitality and tourism sectors benefitting over 150,000 businesses and consumers everywhere, all helping to protect 2.4 billion jobs.”
More to follow…
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