UK government implements VAT reduction in the hospitality and tourism sector
A boost for the country's economy
Chancellor Rishi Sunak recently announced a key measure for economic revival, which is the decline in VAT in the hospitality and tourism sector. In particular, it would go from 20% to 5%, from July the 15th of this year to January the 12th of 2021.
In addition, as a support for employment, companies will be able to earn 1112.68 euros for each staff member who remains for three months, when their contract ends in October.
After these announcements, Michael Dugher, CEO of the Gambling and Games Council (BGC), said the chancellor's decision to reduce VAT for the hospitality and tourism sectors over the next six months will potentially be a major boost for bingo halls and casinos. However, he also comments that in order to take advantage of this new policy casinos must receive the green light to reopen as quickly as possible in July. Michael Dugher says "these establishments can reopen safely and it's time to let them do it."
In this regard, the BGC reiterates that casinos are prepared to help the economic recovery of the United Kingdom and that they have already implemented the necessary security measures in their premises.
Game, an important sector for the economic revival