Published: 12 August, 2020
Britain’s economy shrank by 20.4% in the three months to June 2020, marking the deepest contraction currently of any major economy, with the Accommodation & Food sectors among the hardest hit, slumping by 86.7%.
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Chancellor Rishi Sunak has announced a major cut to VAT for the hospitality and tourism sectors as they emerge from lockdown, as well as a first of its kind government-backed discount to help encourage customers to get back to the nation's bars, pubs, restaurants and cafes.
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