King's Lynn pub to slash food and drink prices for one day
Lynn’s Wetherspoon pub is to cut the price of all food and drink by 7.5 per cent on Thursday, September 24.
The Globe Hotel in King Street is supporting Tax Equality Day, aimed at highlighting the benefit of a permanent VAT reduction in the hospitality industry.
At present, all food and drink in pubs is subject to five per cent VAT. However, this cut lasts only until January 12 when it will return to 20 per cent.
Supermarkets benefit from a zero VAT rate on all food and Wetherspoon says they are able to use that saving to sell alcohol at a discounted price.
Globe manager, Karen Davies, said: “We are proud to support the campaign to reduce the level of VAT within the hospitality industry.
“Customers coming to The Globe Hotel on Thursday, September 24 will find the price of their food and drink is lower than normal.
“Pubs have been under fantastic pressure for decades due to the tax disadvantages we have with the supermarkets.
“We’re very grateful to the Chancellor for reducing the tax disparity between supermarkets and pubs to five per cent. We are urging him to create tax equality between pubs and supermarkets by making the current VAT regime for pub food and soft drinks permanent.”