Stocks● Neutral
Families welcome new VAT-cut scheme to help with holiday costs
UK's £300m summer VAT cut on children's meals and attraction tickets aims to ease cost-of-living pressure. Commercial parks benefit; charity zoos do not. The scheme runs through Sept 1.
Continue with
The UK government's temporary VAT cut on children's meals and attraction tickets, costing £300 million, took effect June 25. The "Great British Summer Savings" scheme reduces VAT from 20% to 5% at adventure parks, nature reserves, and wildlife parks. It also cuts VAT on children's meals in restaurants and provides free bus travel for children aged 5 to 15 in England.
Families welcomed the move. Mother-of-two Kirsty Gillingham, visiting Pleasurewood Hills in Suffolk, said anything that reduces costs helps a young family. Kay Bonning-Schmitt, another mother, said the VAT cut on children's meals will definitely help. Buying lunch out is often unaffordable, she said.
Commercial attractions benefit directly. Pleasurewood Hills operations manager Levi Bellis said the hospitality industry has been crying out for a VAT deduction. The park attracts about 200,000 visitors a year.