Reeves must cut tax to create level playing field for shops and pubs, says Wetherspoon boss
The boss of Wetherspoons has called on Finance Minister Rachel Reeves to cut taxes – by creating a level playing field between shops and pubs.
Tim Martin praised Reeves’ “Bank of England status” and said he hoped she would help the hospitality industry.
Martin has long complained that supermarkets pay no VAT on food, while pubs pay 20 percent.
Request: Wetherspoon boss Sir Tim Martin (pictured) has called on the Labour government to level the playing field between shops and pubs
“The previous government failed to implement equal tax rates for pubs and supermarkets, leading to pub closures and under-investment,” he said.
‘Wetherspoons hopes the Chancellor of the Exchequer will understand how many beans are five and that he will rectify this inequality.’
The group said sales had reached “record levels” this year, rising 5.8 percent in the 10 weeks to July 7.
Sales were also strong, despite the fact that 26 pubs have disappeared this year.
In 2015, the company had a whopping 950. Annual profits are expected to be around £75 million.
Shares fell 2 percent, or 15.5p, to 753p
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