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The Chancellor unveils a VAT cut and a 50% offer to help out restaurants

In parliament today, chancellor Rishi Sunak announced  a series of schemes to support the beleaguered hospitality industry. They are:

  • A VAT cut. That comes down from 20% to 5% on food, accommodation and attractions - it takes effect from next Wednesday, 15 July.
  • A £1000 bonus, payable in January 2021, for every staff member kept on once the furlough period ends in October
  • And an August discount - labelled "Eat Out to Help Out". For participating restaurants, that will give customers 50% off (to a max of £10 each person) throughout August. 

For that discount scheme, more will be revealed soon, and a website will be launched on Monday where restaurants can apply. Mind you - you don't have to wait until August to get a good deal when going out - just head to our Offers section right now.

For restaurant goers, this should mean reduced prices when you're going out. For the hospitality industry, it's a much-needed good bit of news for the hospitality industry - here's how they've reacted.

 

Oh, and:

 

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