Lib Dems call for 5% VAT cut for pubs and restaurants

The Liberal Democrats have proposed a 5% VAT cut for pubs and restaurants to support the hospitality sector. Additionally, they aim to eliminate the renewables levy from energy bills, suggesting that this initiative could be funded through a windfall tax on large banks. This proposal is significant as it addresses the financial pressures faced by the hospitality industry while also seeking to alleviate costs for consumers, potentially stimulating economic activity in these sectors.