The French campaigner and former Minister was invited to present to UKIP conference delegates for 20 minutes, and is hoping to present the case for a VAT cut for the hospitality sector at key Conservative Party, Labour Party and Liberal Democrat meetings.
Borel told attendees at the UKIP conference: “The main benefit of a tax cut from 20% to 5% for pubs, restaurants, catering, and accommodation providers would be the creation of 670,000 jobs in the best case scenario within three years of implementation. Some 60% of the jobs created – 400,000 jobs – would be for youngsters aged 18 to 24. The initial cost would be £7.8bn per annum, which would decrease to £0.8bn, also within three years of implementation. Within a parliamentary session HM Treasury would have practically eliminated the initial cost.”
The Jacques Borel Vat campaign, which has 55 members, increased the profile of the VAT campaign in September with Tax Equality Day, which saw 51 companies reduce prices for the day to show consumers the benefit of reduced VAT. The day saw considerable media interest with 368 Press clippings generated. Those companies that took part saw turnover increase by between 10% and 23% over a normal day.
Of the invitation to speak to the UKIP regional conference, Borel said:
“It’s a sign of the increasing political interest in the campaign. I have met 66 MPs of all parties in the past year. Only one of these MPs has declined to support the basic principle of our campaign – a reduction in VAT would provide a strong economic stimulus and create many jobs. UKIP conference delegates seemed very surprised to hear of the VAT difference between supermarkets and the hospitality sector. The speech was very warmly received – in fact it got a standing ovation.”