Punch Taverns, the UK’s second largest operator of tenanted pubs, has become the latest hospitality business to join Jacques Borel’s VAT Club which seeks to reduce VAT to five per cent as a way of stimulating job creation.
The Jacques Borel VAT Club now has almost 40 members made up of companies from across the pub, restaurant, hotel, brewing and foodservice sectors.
"We are delighted to join the VAT Club and fully support Monsieur Borel's efforts to reduce the VAT burden on pubs and bars in the UK,” said Roger Whiteside, chief executive of Punch Taverns.
“The economic case for a reduction in VAT in this sector is compelling as evidenced by similar changes elsewhere in Europe where thousands of jobs have been created as a result proving the leisure sector has a vital role to play in providing a catalyst to growth.
“Pubs are important in providing local employment opportunities particularly for young people and we must do everything we can to persuade Government to change their approach to this sector and work with us to stimulate investment and growth."
Jacques Borel added: “I’m very pleased to welcome Punch Taverns to membership of my VAT Club. Reducing VAT to five per cent in the sector would be a very cost effective way of creating jobs in the UK, as many, many countries in Europe have already discovered.”
Other members of the VAT Club include Pizza Hut, Road Chef, TGI Friday’s, JD Wetherspoon, Mandarin Oriental, Shepherd Neame, Fuller’s, Charles Wells, St Austell and Subway.