2 pubs on the Isle of Wight are to cut the price of all food and drink by 7.5% on Wednesday 20th September.
Fowlers & Co. in Union Street, Ryde and The Man in the Moon in St James Street, Newport are backing a national Tax Equality Day, aimed at highlighting the benefit of a VAT reduction in the hospitality industry.
Prices at the Wetherspoon pubs will be reduced for 1 day only, in order to show the benefits of a VAT reduction.
At present all food and drink in pubs is subject to 20% VAT, compared to supermarkets which benefit from a zero VAT rate on all food. As a result, supermarkets are able to use that saving to sell alcohol at a discounted rate.
Neil Longley, manager of S. Fowlers & Co. said:
“We are proud to support the campaign to reduce the level of VAT within the pub industry.
“Customers coming to the pubs on Wednesday September 20 will find the price of their food and drink is lower than normal.
“We are keen to highlight the amount customers would save if VAT in pubs was lowered permanently.
Article continues below this advertisement “So, for example, the total price of a meal and drinks for an individual would be reduced from £10 to £9.25 on Tax Equality Day.
“A reduction in the level of VAT on a long-term basis will generate growth and create jobs in the important leisure and hospitality sector and help the high street of which pubs are in integral part.”
