Disappointing stimulus leaves hospitality SMEs out in the cold
Lack of Vat relief, pricey loans and a staycation subsidy will not help firms for whom trading is down by up to 90 per cent
My initial thoughts are that the July stimulus package is disappointing. I find myself relating to something Mary Lou McDonald said: that the measures are miserly, cumbersome and clumsy.
In the hotel and tourism sector we expected that the Vat rate would drop dramatically. Britain dropped its rate to 5 per cent, and the fact that our government didn’t reduce the Vat for the hospitality sector is going to cause carnage.
The staycation subsidy...
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