questionText: To ask the Chancellor of the Exchequer, what estimate she has made of revenue lost in 2027/28 by permanently reducing VAT to 5% for hospitality businesses.
answerText: HMRC estimates that the cost of changing the 20 per cent Standard Rate of VAT on all accommodation and food and beverage services to the Reduced Rate of 5 per cent would be around £17 billion in 2027-28The Government recognises the significant contributio...
heading: Hospitality Industry: VAT