Steph McGovern

There's lots of talk around business rates as well.

So lots of businesses are really feeling the pressure and we're hearing chefs and those in the hospitality sector saying that they want a cut for VAT on VAT for pubs and restaurants to 10%.

So first of all, what do you think about this?

Is that something that you think, Dan, would make a difference, this rate cut to the hospitality sector?

And, you know, would it be fair, I guess?

So basically what you're saying is this price cut, which is essentially what they're arguing for, wouldn't actually be a price cut for consumers.

It would just be a profit gain in terms of an increase in margins for the actual restauranteurs.

I mean, I think that's intuitive.

But these are restaurants that are struggling, a lot of them.

So how would you then, surely they'll want to bring down their prices in order to get more people through the doors.

And then in the longer term, that's tax, potential tax revenues going up because they'll be making more profit and more people will be coming into the business.

So if you look then at those countries you mentioned where they do have this kind of flat rate VAT across all products and all services and things, what's their income from it then?

Do the governments of these countries actually make a decent revenue from it then?

Yes.

Yes.

because you also get those businesses that do everything by the book up to the VAT threshold.

And then after that, everything's in cash.

So that's where the tax revenue potential is being lost as well.

But I mean, obviously you're saying the big chunk of the evidence is from London.

For places outside of London where shops are empty, where areas are really struggling on their high streets and things, do you really think a landlord is going to put up the rent equivalent to what the business rates go down by?