Pubs and restaurants cut prices in VAT protest

[dipsydoodle]

Thousands of pubs and restaurants are dropping their prices by 7.5% on Wednesday in protest at current tax conditions.

The campaign, called "Tax parity day", has been organised by the lobby group of French businessman Jacques Borel,

Currently customers pay 20% VAT on food consumed in pubs and restaurants.

Campaigners say a VAT cut from 20% to the government's reduced rate of 5%, would generate an extra £1.5bn in taxes in just three years and 600,000 jobs.

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Mr Borel, who has launched similar campaigns in France and Belgium, argues that the current VAT regime is unfair as supermarkets do not pay VAT on food because it is taken and consumed off the premises.

http://www.bbc.co.uk/news/business-24237704

[Niceguy1]

1. the vat tax is a big

Scam..it needs to go.

[dipsydoodle]

2. VAT is a simply managed tax system.

Changes in rate are invariably matched by similar rate changes elsewhere to balance the budget.