participating Wetherspoon pubs will be offering £1.99 specials on Tax Equality Day
A total of 15,000 pubs and restaurants across the UK are set to cut the price of all food and drink by 7.5 per cent on Wednesday 24 September, backing the national Tax Equality Day, aimed at highlighting the benefit of a VAT reduction in the hospitality industry.
Prices will be reduced for one day only, in order to show the benefits to consumers of a VAT cut from 20 per cent to 5 per cent – the 7.5 per cent cut in price on the day is the equivalent effect of a reduction in VAT by this amount.
National support from both large and small
Almost 40 companies have confirmed their participation, together with a number of individual pubs and restaurants across the UK.
Among those taking part are: Punch Taverns, J D Wetherspoon, TGI Friday, Daniel Thwaites, Wadworth & Co, TCG Pubs, Everards and Fuller’s.
This year has also seen a greater number of smaller companies, such as Anglian Country Inns, Snug Bars and Pub Love taking part.
Organised by veteran VAT cut campaigner
The campaign is being organised by veteran VAT cut campaigner Jacques Borel, who has achieved VAT cuts in a number of European countries, including France, Germany, Belgium and Finland.
At present all food and drink in pubs is subject to 20 per cent VAT, compared to supermarkets which benefit from a zero VAT rate.
Mr Borel said: “A reduction in the level of VAT on a long-term basis will generate growth and create jobs in the important leisure and hospitality sector.
“We are delighted with the response from the industry and expect many more companies and individuals to show their support for Tax Equality Day between now and the day itself.”
Wetherspoon founder and chairman Tim Martin, who will be lowering prices in the company’s 930 pubs, added: “We’re aiming to make it the busiest day of the entire year.”
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