Wetherspoon to cut prices on ALL food and drink for one day this September

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Every branch will offer a 7.5 per cent discount on all food and drink, including alcohol

Wetherspoon is cutting prices across its entire menu to mark Tax Equality Day.

Every branch in England, Wales and Northern Ireland will offer the discount on all food and drink, including alcohol.

The one-day promotion is designed to highlight what the pub chain says would be the benefit of a permanent VAT reduction for the hospitality industry.

Customers visiting Scottish locations will also see reduced prices, but only on food and non-alcoholic beverages.

The budget chain, already known for its affordable menu, says the promotion will make meals and pints cheaper still for punters looking to take advantage of the limited offer.

The price reduction of 7.5 per cent reflects the gap between the current 20 per cent VAT rate imposed on pubs and restaurants and the 12.5 per cent level that Wetherspoons founder and chairman Sir Tim Martin wants to see introduced.

Supermarkets are not required to pay VAT on food, giving grocery retailers a significant advantage when it comes to pricing.

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Mr Martin is urging the chancellor to level the playing field between hospitality venues and supermarkets.

"A VAT cut to 12.5 per cent is needed to ensure that pubs, bars and restaurants do not continue to close, but instead thrive, invest and create new jobs," he said.

"We call on the chancellor to create tax equality between the hospitality industry and supermarkets."

According to the pub chain, customers could pick up a large breakfast for as little as £6.97 on the day, depending on local pricing.

A pint of Bud Light, meanwhile, could cost as little as £5.09.

Mr Martin argues that easing the tax burden on pubs, bars and restaurants would reduce the number of venues being forced to shut their doors.

Lower VAT would also help to limit price increases for customers, he says.

The Wetherspoons boss believes that bringing hospitality VAT down to 12.5 per cent would not only protect existing businesses from closure but also encourage investment and the creation of new jobs across the sector.