“It’s not even worry, it’s absolute dread. That one day you’re going to wake up and go I can’t make it work” – Simon Wood, Restaurateur.

This week we watched the sobering, yet beautifully created video by Manchester’s Finest (link here incase you missed it). The message is clear and without exception, costs MUST come down.

The hospitality industry is the 3rd biggest employer in the UK (employing 3.5 million people in 2022). By reducing VAT to 10% for our industry it would prevent further businesses closing and save countless jobs.

Read below to find out how else the UK economy would benefit from this tax reduction.

Economic Stimulus

A reduced VAT in the hospitality sector could stimulate economic activity. Lowering the tax burden on businesses encourages spending, attracting both locals and tourists, ultimately boosting revenue and employment.

Competitive Advantage

The UK faces stiff competition in the global tourism market. A reduced VAT would make the country more appealing to tourists and confer a competitive advantage over other destinations, aiding in the recovery of the hospitality industry.

Job Creation

Lowering VAT could potentially lead to increased business profitability, enabling companies to invest in expansion and job creation. This, in turn, contributes to overall economic recovery and stability.

Support for Small Businesses

Small and independent businesses in the hospitality sector have borne the brunt of economic downturns. A VAT reduction would alleviate financial pressure, providing these enterprises with much-needed breathing room to recover and thrive.

Consumer Spending

Reduced VAT results in lower prices for consumers, encouraging spending in the hospitality industry. This, in turn, fuels demand for goods and services, creating a positive economic cycle that benefits both businesses and consumers.

Tourism Boost

With the hospitality industry being a significant component of the tourism sector, a reduced VAT could attract more visitors. Increased tourism not only benefits hotels and restaurants but also has a ripple effect on related industries like transportation and retail.

How can you help? Stop your favourite bars and restaurants closing by signing the petition and bringing the discussion to UK parliament.