Calls to cut hospitality VAT to combat price rises

Hospitality and food industry leaders have reiterated calls for a cut in VAT to help businesses cope with soaring inflation.

Prices are continuing to rise at their fastest rate for more than 40 years, driven by increasing food and fuel costs.

Consumer Price Index (CPI) inflation jumped to 9.4% in the 12 months to June 2022, up from 9.1% in May, according to the Office for National Statistics (ONS).

Hospitality operators have called for a cap on commercial energy bills and warned they could face closure if costs continue to rise.

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