The £46bn hospitality industry has made a reduction in tourism VAT the number one priority for the next Government, a survey by leading buying company Beacon has shown.
Carried out to mark ‘50 Days to Go’ before the General Election, Beacon surveyed a range of companies in the hospitality industry, with the results providing an early election boost to the Conservative party. Businesses felt it would be the party best placed to look after the interests of the hospitality industry - with UKIP in second place and Labour in third place.
Other findings of the survey include strong support for a reduction on tax on alcohol (22%), which was announced as part of the Budget on the 18th March with a penny coming off a pint, as well as highlighting a need for more support in plugging the skills gap and employing apprentices (25%).
However, a reduction in tourism VAT was the clear leader, with 34% of businesses naming it the policy they most hope is put in place following the election.
Paul Connelly, Director of Operations at Beacon, commented: “A reduction in tourism VAT, to see it brought into line with competitor destinations within the European Union, would allow hospitality businesses to lower prices and increase investment in struggling areas.
“Furthermore, research by Deloitte/Tourism Respect found that such a reduction would contribute an extra £2.6bn to HM Treasury over ten years and create 80,000 jobs.
“The companies surveyed represent the UK’s fourth largest sector and they deserve to be heard and taken seriously by the next Government, which is why we commissioned the survey and with less than 50 days to go it appears that the sentiment is presently favouring the Conservative party.”
Beacon is one of the UK’s largest buying companies and surveyed a selection of hospitality businesses between 1st and 16th March 2015.
For more information about Beacon visit http://www.beaconpurchasing.co.uk/ and to follow Beacon on Twitter visit https://twitter.com/Beacon_YPP.