A cut in VAT of 5% could provide the average UK adult with extra spending power of £547 per year, according to the report.
Up to £10.3bn could be ploughed into the UK’s hospitality sector if a reduction in VAT is announced in the government’s Autumn statement next week (23 November).
A cut in VAT of 5% could provide the average UK adult with extra spending power of £547 per year, according to the report.