Joss Croft, CEO of UKinbound has commented on the Chancellor’s latest coronavirus economic recovery plans:
The Chancellor’s economic recovery plans clearly recognise the value of hospitality and tourism, and cutting VAT from 20% to 5% and the Eat Out to Help Out scheme will deliver immediate positive impacts for businesses and consumers.
“The Job Retention Bonus Scheme will also help tourism and hospitality businesses, but only those that survive into next year.
These measures will unfortunately not help the many businesses involved in inbound tourism who help to drive regional economies and jobs, and who are currently on the brink – longer-term support will still be required for these businesses, which have been hit even harder than the domestic and outbound tourism industries.”
