Politics
‘It’s not a business viability measure’ - Michael McGrath rules out hospitality Vat rate cut
The finance minister also warned ministerial colleagues that departmental overspends would have consequences
Michael McGrath has ruled out any prospect of a lower Vat rate for the hospitality industry being re-introduced, warning that it should not be used to prop up struggling firms.
“I would make the point that Vat is a tax on the consumer, it’s not a business viability measure. So any cut or change to the Vat should result in a change in the price that the consumer is paying and that’s not the argument that I’m currently hearing,” McGrath told the Business Post.