questionText: To ask the Chancellor of the Exchequer, what estimate her Department has made of the costs to the exchequer of reducing VAT for hospitality businesses to (a) 15%, (b) 10%, (c) 5% and (d) 0%.
answerText: HMRC estimates that the cost of reducing the 20 per cent Standard Rate of VAT on all accommodation and food and beverage services would be as follows in 2026-27: (a) to 15%: £5 billion, (b) to 10%: £10.5 billion, (c) to 5%: £17 billion, (d) to 0%: £23.5 b...
heading: Hospitality Industry: VAT