UK fish and chip industry urges long-term tax cuts to keep 10,500 businesses afloat

The UK fish and chip shop industry is calling for a long-term or even a permanent cut to value-added tax (VAT) rates to help businesses stay afloat as they battle the impacts of the COVID-19 pandemic.

This comes after a VAT cut from 20 percent to 5 percent was extended to March 31 by UK finance minister Rishi Sunak.

The reduction has given fish and chip business owners confidence to invest in new equipment and, in some cases, refit their shops.