Wetherspoons slash prices on food and drink for TODAY only as students arrive back in Sheffield

The pub chain, which has hundreds of sites across the UK, has already become famous for its notoriously cheap food and drink.

But today, Wednesday September 20, the pub will be dropping their prices even lower to mark National Tax Equality Day.

The day marks the campaign to 'level the playing field' over the disparity of VAT between the on-trade and the supermarkets.

This will be welcome news for pub-goers in Sheffield, especially students either new to Sheffield or coming back to the city after a summer away.

Wetherspoon's chairman, Tim Martin, has confirmed that they will be backing the campaign and will cut the price of food and drink by 7.5 per cent across UK pubs.

The pub will be one of thousands that are supporting the day to highlight the benefit of a VAT reduction in the hospitality industry.

Currently, all food and drinks in pubs are subject to 20 per cent VAT, compared with food in supermarkets which benefits from zero-rate VAT.

This means supermarkets are able to use that saving to sell alcohol at a discounted rate.

Mr Martin, said: “We are proud to support the campaign to reduce the level of VAT in the pub industry. On Tax Equality Day, customers in our pubs will find the price of their drinks and food to be lower than normal. We are keen to highlight the amount which customers would save, if VAT in pubs were lowered permanently.

“So, for example, the total price of a meal and drinks, for a customer, would be reduced from £10 to £9.25 on Tax Equality Day. A reduction in the level of VAT, on a long-term basis, will generate growth and create jobs in the important leisure and hospitality sector.

"Creating tax equality among pubs, restaurants and supermarkets will fulfil many government objectives. It will create more jobs and raise the amount of taxes which the government receives, since pubs and restaurants pay more taxes and create more jobs than supermarkets do.

“It is a win-win situation for the government and our industry.”

Brigid Simmonds Chief executive of the British Beer and Pub Association said “Tax Equality Day is a great opportunity to shine a light on how unfair VAT is for both pubs and the wider hospitality sector. If you buy a meal in a supermarket you pay no VAT, but in the pub you pay 20 per cent.

“Even a small drop in the VAT rate for eating out, to 15 per cent, would create 78,000 jobs, and would be a big boost for the economy. I hope pubs will get behind the campaign.”