Business Improvement Districts across the UK are backing UKHospitality’s call to cut the VAT rate for hospitality businesses from 20% to 12.5%.
A policy recommendation included in Places for Everyone: A Manifesto for Towns and Cities, a manifesto put together by BIDs from across the UK, the call for a cut in VAT for hospitality businesses has been backed by a range of causes and key stakeholders, including the All Party Parliamentary Group for Hospitality and Tourism.
Carolyn Brownell, Executive Director of FOR Cardiff and BID Foundation council member said,
“Cardiff is a hospitality-led economy, meaning that critical issues facing industry operators have a knock-on effect on the whole city. Cutting VAT for the sector will, in turn, cut pressures on these businesses: safeguarding jobs and preventing business closures.
“Many of the issues impacting high streets and local economies are devolved, which is why we continue to make representations to Welsh Government around many of the issues contained in this manifesto. Cutting VAT for the hospitality industry is in the hands of Westminster, and we hope that the incoming government will give serious consideration to this matter.”