Wetherspoon boss Tim Martin supports Reform UK plan to cut hospitality VAT

Sir Tim Martin said in a stock exchange filing that Reform UK proposes allocating £3 billion and a 10% cut to hospitality VAT, which he described as creating tax parity with supermarkets and potentially transforming pubs' competitiveness.

Sir Tim Martin, founder and chairman of JD Wetherspoon, has urged pub bosses to back Reform UK pledges in a stock exchange filing. The plans he described would allocate £3 billion to the industry and cut VAT for hospitality by 10%. He said the change would create tax parity with supermarkets. He added that it would transform pubs' competitiveness and help restore margins. Key points: - Sir Tim Martin made the comments in a stock exchange filing addressed to investors and industry leaders. - The Reform UK proposal cited in the filing would allocate £3 billion to the hospitality sector and reduce VAT for hospitality by 10%. - Martin said the measure would effectively give tax parity with supermarkets and would restore margins to affected businesses. - He said the initiative would "utterly transform the competitiveness of pubs" and could enable them to regain some or all lost trade. Summary: Sir Tim Martin framed the Reform UK proposal as a major change for pubs, highlighting potential tax parity and restored margins. Undetermined at this time.