Wetherspoons to reduce prices at Bradford pubs after…

Wetherspoons to reduce prices at Bradford pubs after VAT cut

PUB GIANT Wetherspoon is to reduce prices on meals and drinks following the decision to cut VAT on food, coffee and soft drinks.

The chain which runs the Turl’s Green in Bradford city centre, The Sir Norman Rae in Shipley and The Myrtle Grove in Bingley has also produced posters praising the Chancellor.

The company said it will fully pass on the tax cut from 20% to 5% to its customers from Wednesday, including real ale, coffee, soft drinks and food.

Wetherspoon chairman Tim Martin said: “Wetherspoon has campaigned for tax equality between pubs, restaurants and supermarkets for many years.

“Supermarkets pay no VAT on food sales and pubs pay 20%.

“Supermarkets pay about two pence per pint of business rates and pubs pay about 20 pence.”

“These tax differences have helped supermarkets to subsidise their selling prices of beer, wine and spirits, enabling them to capture about half of pubs’ beer sales, for example, in the past forty years.

“A VAT reduction will help pubs and restaurants reverse this trend – creating more jobs, helping high streets and eventually generating more tax income for the Government.

“Not every UK hospitality business will be able to reduce prices immediately.

“Some will need to retain the benefit of lower VAT just to stay in business. Others may need to invest in upgrading their premises.

“However, lower VAT and tax equality will eventually lead to lower prices, more employment, busier high streets and more taxes for the Government.”