The Campaign for Pubs, which claims to represent thousands of ordinary publicans, has written an open letter to the Chancellor laying out an extensive wish-list. Demands include a 12-month extension to the 5 per cent reduced VAT rate and for Bounce Back loan repayments to be halved. But the Campaign for Pubs says that many landlords took advantage of these loans last year under the impression that lockdown would only be short term. In July the Chancellor slashed VAT for food and non-alcoholic drinks from 20 per cent, to last until March. Government borrowing this financial year has hit £270.6billion - a reflection of the unprecedented peacetime spending to mitigate the economic harm of lockdown.

Source: The Nation February 27, 2021 20:48 UTC