Tourism and hospitality: McGrath says cost of lowering Vat to 9% ‘was far too high’

Minister for Finance Michael McGrath has said the cost of extending a lower 9 per cent Vat rate for either the accommodation and food portions of the hospitality sector “was far too high”.

“The cost of extending the law 9 per cent Vat rate for a full year to both food and non-food was of the order of €0.75 billion. If you increase it for accommodation only the cost was still in excess of €600 ...