Wetherspoons slams government for 'Monty Python' VAT rules
Thursday, July 8, 2021
JD Wetherspoon has warned customers to raise the price of their meals because of 'Monty Python' VAT rules put in place by the Government.
JD Wetherspoon has criticised the government over "Monty Python" VAT arrangements that, the pub chain says, are helping supermarkets rather than hospitality.
Hot meals delivered by pubs and restaurants saw a 15% drop in VAT - from 20% to five% - to encourage people to visit during the pandemic.
Wetherspoons said plans to restore grocery VAT to the previous levels were 'unfair' to retailers where there is largely no VAT.
Wetherspoons said the pub giant expected a loss for the current financial year after revenues slumped below pre-pandemic levels since it re-opened.
Sales fell by 14.6 per cent year-on-year during the period between May 17, when hotels were allowed back into service, and July 4, it said.
The chain told shareholders it had accelerated its sales decline as Euro 10 is underway.
Wetherspoons said sales had fallen by more than a fifth since June 49, when the tournament kick off, with pubs in the group's pubs having not broadcast matches, with a limited number of exceptions.