The Chancellor has announced a massive boost for businesses and jobs along with measures to support the tourism and hospitality industry. These new measures will benefit up to 410 businesses in South Derbyshire alone.
I believe this boost will help to kick-start the economy by cutting VAT for hospitality, accommodation and attraction businesses from 20% to just 5% for six months from Wednesday 15th July. These businesses were some of the hardest hit during the coronavirus and it is vital that we now give them all the support we can. By helping them recover it will save jobs and businesses in South Derbyshire.
To further support them the government are encouraging people to eat out and help locally businesses and to encourage this the Government will, potentially, pay for up to 50 per cent of people’s meals out at restaurants, pubs and cafes on Mondays, Tuesdays and Wednesdays throughout August. The Eat Out to Help Out scheme will entitle everyone to a discount of up to 50 per cent on their meal, up to a maximum of £10 per person for food and soft drinks. Businesses can claim the money back from the Government, which will be paid in five working days. Up to 200 businesses in South Derbyshire could benefit from the move.
These past few months have been a serious challenge for everyone and we cannot under estimate the pressure this has put on businesses in South Derbyshire especially in the tourism and hospitality sector.
I am pleased to support these new measures taken to support businesses and I hope people will support local pubs and restaurants and take part in the Eat Out to Help Out scheme. The new voucher scheme and cut in VAT will provide a lifeline to many businesses.
I have always supported businesses in South Derbyshire and today’s announcement will help in the national recovery, saving jobs and backing business.