Lib Dems warn going out should not be “unaffordable luxury” as party calls for emergency hospitality VAT cut for businesses in Plymouth

As going out has become an increasingly “unaffordable luxury” for families across Plymouth, Richard Bray, Liberal Democrat spokesperson for Compton, has joined the party’s calls for an emergency 5% VAT cut for pubs, restaurants and other hospitality and entertainment businesses at the Budget later this month. 

In a speech on Wednesday 12th November, Liberal Democrat Deputy Leader and Treasury Spokesperson Daisy Cooper MP set out the party’s bold £12bn plan to tackle the cost of living and support Britain’s high streets, putting £270 back in people's pockets. 

As part of the plan, VAT would be immediately cut from 20% to 15% for hospitality, accommodation and attractions, boosting struggling high streets and slashing prices for hard-pressed families across Plymouth. 

Richard Bray and the local Liberal Democrats said this plan would also boost footfall into pubs, restaurants, entertainment venues and tourist attractions across Plymouth, tackling the double whammy of higher taxes and lower spending currently hammering UK food and drink venues.

The party’s £12bn support package also includes proposals to bring down sky-high energy costs, by removing the Renewables Obligation levy currently charged on people’s electricity bills. The move would reduce the typical energy bill by more than £90 a year, taking it down to its second lowest level since the energy crisis began in 2022. 

The proposals would be funded by a new windfall tax on big banks, originally proposed by the IPPR think tank, which could raise around £30bn in total between now and 2030.

Richard also said: 

“People all across Plymouth work incredibly hard for their paycheck, but throughout this ever-spiralling cost of living crisis there is less and less disposable income left to go around. 

“Small joys like Friday night takeaways and Saturday evenings at the cinema or bowling alley have become an unaffordable luxury for too many people. It’s devastating we have reached this point. 

“That’s why I am backing our plan for an emergency VAT cut for hospitality, as well as the Liberal Democrat plan to immediately cut energy bills by more than £90 a year. “Hospitality businesses here in the city have been rightly vocal about these issues. They’ve called for fairer treatment by the Government, and that’s what these Lib Dem ideas would deliver. We back our local businesses.”