Slashing VAT “Clearly Regognises the Value of Hospitality and Tourism”

Joss Crorft, CEO of UKinbound has praised the Chancellor's announcement that VAT would be slashed from 20% to 5% saying the plan "clearly recognises the value of hospitality and tourism"

Following the Chancellor’s announcement that VAT will be cut from 20% to 5% across the hospitality sector, Joss Crorft, CEO of UKinbound said: “The chancellor’s economic recovery plan clearly recognises the value of hospitality and tourism, and cutting VAT from 20% to 5% and the Eat Out to Help Out scheme will deliver immediate positive impacts for businesses and consumers.

“The Job Retention Bonus Scheme will also help tourism and hospitality businesses, but only those that survive into next year. These measures will not help the many businesses involved in inbound tourism who drive regional economies and jobs, and who are on the brink; longer-term support will still be required for these businesses, which have been hit even harder than domestic and outbound.”