The beginning of the end for Lockdown Britain as Government publishes road map out of Covid crisis
The beginning of the end for Lockdown Britain.
The government will announce on February 22nd its plans for the UK to leave lockdown, and for ending all Covid-19 restrictions.
Speculation and demands by all industries is rife as the UK Government will, after a year since Covid-19 started, release its plans to ease restrictions. Many industries have long lists of demands, with the hospitality industry no exception. A recent report by the IBN suggested a £35bn give away is required to save 500,000 jobs or the government should spend £70,000 per job.
•Provide hospitality businesses with a COVID-investment rebate – £690m
•Extend hospitality’s reduced VAT rates for remainder of 2021 – £6.3bn
•Include alcohol in hospitality’s reduced VAT rates – £750m
•Cut in half Britain’s alcohol taxes – £1.8bn
•Make hospitality investments 100 per cent First Year Allowance (FYA) – £1.15bn
•Continue the suspension of business rates 2020/2021 – £15bn
•Cut VAT rate payable by physical retailers to 14 per cent – £7.6bn.
•Freeze town centre parking fees – £872m
•Reintroduce ‘eat-out-to-help-out’ and complement it with a ‘pro-hospitality’ advertising push – £1.08bn.