Wetherspoon Is Cutting Its Prices For One Day Only
It's that time of year again, LADs. Wetherspoon has announced its annual 'Tax Equality Day', where it slashes the price of everything on the menu by 7.5 percent for the day.
It'll all be discounted off automatically and it will include everything. Any food and drink and will be eligible, but only if its ordered next Thursday (19 September).
But what does this mean for us? Well, I'll do the maths for you - if you have a £10 bill, you would only pay £9.25. That's right, kids, that means a huge 75p off for you.
If you're not into buying rounds, a pint that would cost £2.50 would only be £2.32.
It might not seem that groundbreaking for us, but 'Tax Equality Day' is part of the budget pub chain's campaign to highlight how damaging tax is to the hospitality industry, suggesting that if the tax was lower, those discounts could, in theory, be passed on to the customer.
Or, if they weren't they'd add up to a huge profit for the pubs.
All food and drink sold in pubs has a 20 per cent VAT amount added. This is in comparison to other areas that have no VAT at all - meaning that supermarkets are able to sell alcohol for cheaper, unlike pubs.
More Like ThisMore Like This
As a result, supermarkets are able to sell alcohol at a discounted price - something pubs can't do.
Tim Martin said: "Pubs suffer a huger disadvantage, paying about 16 pence in business rates per pint versus about two pence for supermarkets.
"In addition, there is a huge VAT inequality and unfairness.
"A reduction in the level of VAT, on a long-term basis, will create a level playing field and generate growth and jobs in the important leisure and hospitality sector and help the high street, of which pubs are an integral part."
Union UK Hospitality are all for the campaign, saying it is highlighting an important issue.
Kate Nicholls, from the union, said: "Pubs are paying around one third of their turnover in tax, which seriously restricts their ability to invest in their venues and staff, and increases prices for customers.
"A cut in the rate of VAT for the hospitality sector could help to address this unfairness and allow pubs and bars to invest in their businesses and staff members, and provide even greater choice for customers."
Featured Image Credit: PA
Topics: uk news