A cut in VAT from 20% to 5% on food and drink could create as many as 670,000 jobs in the UK, new research commissioned by the Jacques Borel VAT Club has revealed.
Jacques Borel, the French businessman leading the campaign for a VAT cut for the sector, met Treasury officials this week to discuss a cut in VAT for the hospitality sector as a way of creating jobs.
Punch Taverns has become the latest high profile company to join the Jacques Borel VAT Club, which is campaigning to reduce VAT to 5% in the UK hospitality industry.
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