The Chancellor has announced a much-needed boost for tourism and hospitality businesses in the South West, as part of his Summer Economic Update to kickstart the economy post-coronavirus.
The measures will see VAT for hospitality, accommodation and attraction businesses cut from 20% to 5% for six months. The move is designed to support the sectors that have been particularly hard hit by the coronavirus crisis, helping businesses to recover and boosting the number of jobs across the country. Up to 1,105 businesses could stand to benefit from the measures in Plymouth and South West Devon.
MPs across the South West have also urged local people to eat out to help out, following the announcement that the government will pay for up to 50% of people’s meals out at restaurants, pubs and cafes on Mondays, Tuesdays and Wednesdays throughout August. The Eat Out to Help Out scheme will entitle everyone to a discount of up to 50% on their meal, up to a maximum of £10 per person. Businesses can claim the money back from the government, which will be paid in five working days. Up to 645 businesses in Plymouth and South West Devon could benefit from the move.
Taken together, these measures will provide a timely and much-needed boost to the tourism and hospitality industries in the South West, forming a key part of the government’s plan for jobs – supporting people to find jobs, creating new jobs and protecting jobs in hard-hit sectors.
