During interviews with the BBC earlier today, Secretary of State for Business, Energy and Industrial Strategy Kwasi Kwarteng has set expectations by revealing key elements of the chancellor’s budget tomorrow.
Speaking on BBC Breakfast and BBC Radio 4 the business secretary said that support for business, including furlough and the VAT cut for hospitality will continue at least “while lockdown persists”.
Mr Kwarteng said there would “perhaps be an extension” of the 5% VAT rate for the hospitality sector, due to end 31 March.
His comments indicate some alignment with the PM’s roadmap saying: “I think it’s a fairly good assumption that, while lockdown persists, there will be additional support.”
Those in hospitality that keep tabs watching and listening to news on the BBC will doubtless hope Mr Kwarteng knows what he is saying rather than speculating.
News from the hospitality and catering industry is also being featured extensively in our Facebook and twitter social media accounts with the opportunity to engage with others in hospitality and share your views.
Hospitality & Catering News: Kwasi Kwarteng indicates 5% VAT extension and wider support will be announced tomorrow. – 2 March 2021 – Kwasi Kwarteng indicates 5% VAT extension and wider support will be announced tomorrow.
Copyright: All content in Hospitality & Catering News is protected by copyright.