Reduce VAT charged by the entire hospitality sector to 5%

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Reduce VAT charged by the entire hospitality sector to 5%

Petition Details

The standard rate of VAT in the hospitality sector is 20%. This should be reduced to 5% for the entire sector.

Additional Information

Pre-Covid19 over 3m people were employed in the UK hospitality sector. This sector generated over 4% of the nations GDP. It has been decimated by the lock down. New restrictions on the sector will reduce capacity and profitability which could lead to more permanent closures and job losses. One of the single largest burdens to businesses operating in this sector is VAT. A reduction in VAT should enable those within this sector to partially reduce their prices, benefiting consumers, but also the business.

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