Sadly we saw 80% of hospitality firms temporarily stopped trading in April and 1.4 million workers have been furloughed.
At the moment VAT on hospitality and tourism is charged at 20%.
However there will be a cut to 5%, from next Wednesday until 12th January 2021.
This is a £4 billion catalyst for the hospitality and tourism sectors, benefiting 150,000 businesses and helping to protect 2.4 million jobs.