VAT cut campaigner Jacques Borel is calling on pub, bar and restaurant operators to make Tax Equality Day (Wednesday 24 September) their busiest day of the year.
A total of 15,000 outlets across the UK are to cut the price of all food and drink by 7.5 per cent this Wednesday, 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.
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 UK pubs is subject to 20 per cent VAT, compared to supermarkets which benefit from a zero VAT rate.
Mr Borel said: “I am confident that Tax Equality Day will be a great success and that the price reductions will be welcomed by customers.
“Our message is clear – 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.”