Coalition of UK industry bodies warns of ‘painful’ job losses if Treasury returns tax to pre-Covid levels in April
Hospitality and tourism bosses are pleading with the government to permanently lower the VAT rate on businesses in their sectors to help safeguard thousands of jobs.
The appeal comes as the tax’s rate for pubs, restaurants, holiday accommodation and admission to certain attractions rises on Friday to 12.5%, following a temporary cut to just 5% that was introduced in July 2020 to help businesses struggling in the pandemic.
