01-31-2021, 03:07 PM
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#106
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Resident Curmudgeon
Posts: 79,940
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Join Date: Nov 2006
Location: Roslindale, Massachusetts
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https://www.bbc.co.uk/news/explainers-53334098
Quote:
Are companies passing on the VAT cut to customers?
The Treasury estimates households could save £160 a year on average, but not all firms will pass on the benefit.
Many companies are expected to use the windfall to shore up finances hit by the lockdown, rather than cut prices.
For example, Malcolm Bell, chief executive of Visit Britain, said the chancellor's move was to support business, not help holidaymakers.
And many attractions such as museums, parks and zoos, might also not pass on the reduction.
However, Starbucks has said it will pass on the full 15% discount on coffee served in company-operated stores.
McDonald's has recommended that its franchisees cut prices on an array of products, and pub chain Wetherspoon said it would reduce prices on meals, coffee and soft drinks.
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