Wetherspoons to lower prices for Tax Equality Day
Customers spending £10 on food and drinks on 14 September will be paying £9.25 instead
Wetherspoon pubs are set to cut the price of all food and drinks by 7.5% on Thursday 14 September, in order to highlight the benefit of a permanent VAT reduction in the hospitality industry.
Prices at the pubs will be reduced for one day only to mark Tax Equality Day. For instance, customers spending £10 on food and drinks on that day will be paying £9.25 instead.
In Scotland, the deal will only apply to food and non-alcoholic drinks, due to licensing laws.
Currently, all food and drinks in pubs are subject to 20% VAT. By comparison, supermarkets pay zero VAT on food and are able to use that saving to sell alcohol to customers at a discounted price.
Wetherspoon’s founder and chair, Tim Martin, said: “The biggest threat to the hospitality industry is the vast disparity in tax treatment among pubs, restaurants and supermarkets. The tax benefit allows supermarkets to subsidise the selling price of beer.
“Pubs have been under fantastic pressure for decades, because of the tax disadvantages which they have with supermarkets. We urge the chancellor to create tax equality between pubs and supermarkets.”
