“Hundreds of thousands of jobs could be created if VAT was cut by 5%, according to a report by pub, restaurant and hotel firms.”
“Jacques Borel, a French entrepreneur who has successfully campaigned for VAT reduction in hospitality across Europe, said: “The study shows that a targeted VAT reduction to 5% in the hospitality sector would be a very powerful and cost-effective way of creating employment in the UK.””
That’s a big claim! I suspect Jacques is a big fan of dining out.
Tax Barrister, Accountant