However, it will continue to campaign for a VAT reduction on food and drink within the hospitality sector and aims to set up a new organisation to continue the campaign.
Wetherspoon founder and chairman Tim Martin said: “Jacques Borel has done an amazing job campaigning for a VAT cut over the past five years.
“He has led the way and has made great progress in terms of raising the profile of the case for a VAT cut and also for engaging with MPs and policy makers. I hope that those in the industry will appreciate the time and effort that he has put into the campaign.
“It is a shame that some big companies have not supported the campaign to date.
New alliance needed
“I have decided that Wetherspoon can no longer support the VAT Club JB in its present form and believe there now needs to be an alliance of companies who believe, as I do, that a VAT cut is vital for the future of the hospitality sector.
“I will be working hard in the coming weeks to take this forward.”