Kent chef-restaurateur backs Tax Parity Day campaign with 7.5% price cut in menu prices

Kent chef-restaurateur Dev Biswal has become one of the first independent operators to support Tax Parity Day, a national day of action to highlight the benefits of a reduction in VAT.

Along with other supporters of the event, who are calling on the Government to drop the rate of VAT in the hospitality sector from 20% to 5%, he will cut the menu prices at his two Ambrette restaurants in Rye and Margate by 7.5% on Wednesday 25 September.

Biswal believes the tourist dependent economies of the Kent and Sussex coastal areas would receive a massive boost if Chancellor George Osborne cut VAT on restaurant bills, and is calling for his fellow restaurateurs to take part in Tax Parity Day.

He has been persuaded to join the movement by the actions of the VAT Club led by veteran French campaigner Jacques Borel, who is lobbying the UK Government to slash VAT, in order to boost employment.

Borel's similar campaign in France led to VAT dropping from 19.6% to 5.5%, and the subsequent creation of 225,000 jobs in the French hospitality sector.

By cutting VAT for one day, Biswal hopes to demonstrate that a reduction in prices will generate an increase in business with a resultant positive knock on effect for the wider economy.

Leading economists say that the loss to the Treasury in VAT receipts would be recouped in three years through increased income from corporation and income taxes, national insurance and a reduction in benefits - creating over 320,000 new jobs in the process.

Supporters of Tax Parity Day, so far, include JD Wetherspoon, Fullers, Pizza Hut, Roadchef and TGI Friday's.

To find out more go to www.vatclubjacquesborel.co.uk

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