PUNCH Taverns has joined the chorus calling for a VAT cut for the hospitality industry.
The pubco has become the latest major name to join Jacques Borel’s VAT Club, which is calling for VAT to be cut to 5% for pubs, hotels and restaurants.
It’s claimed such a move would bring a major boost to employment in the sector.
Hotel industry lobbyist Borel previously led a successful campaign in France, where a VAT cut of that order is said to have stimulated growth and jobs in the hospitality sector. Other countries around Europe are claimed to have seen similar success.
“We are delighted to join the VAT Club and fully support Borel’s efforts to reduce the VAT burden on pubs and bars in the UK,” said Punch Taverns CEO Roger Whiteside.
“The economic case for a reduction in VAT in this sector is compelling as evidenced by similar changes elsewhere in Europe, where thousands of jobs have been created as a result, proving the leisure industry has a vital role to play in providing a catalyst to growth.”
Jacques Borel’s VAT Club now has just under 40 members in the UK.