Cambon Posted April 24 Share Posted April 24 1 minute ago, Ringy Rose said: Licensed premises didn’t reduce their prices for spirits last year when the standard shot size dropped from 28ml to 25ml. They kept the prices the same and just pocketed the 10%. It would be the same with VAT. Anyone who claims that VAT reductions would be passed on to customers is either deluded or a liar. And the reduction in VAT income would have to be found from somewhere. Exactly! That is what happened after Covid, when VAT was lowered to encourage people to go out. Some lowered their prices, others didn’t. I have never returned to any of those establishments that didn’t. When I asked, the minister, he said it was up to the establishment. 1 Quote Link to comment Share on other sites More sharing options...
The Phantom Posted April 24 Share Posted April 24 30 minutes ago, Ringy Rose said: Licensed premises didn’t reduce their prices for spirits last year when the standard shot size dropped from 28ml to 25ml. They kept the prices the same and just pocketed the 10%. It would be the same with VAT. Anyone who claims that VAT reductions would be passed on to customers is either deluded or a liar. And the reduction in VAT income would have to be found from somewhere. Have any of them suggested that a VAT cut would be passed onto clients? Surely this is to allow Hospitality to make more profit by paying less tax? Their whole point is that they have to make more profit in order to be financially viable and actually stay in business. 3 1 Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted April 24 Share Posted April 24 (edited) 33 minutes ago, The Phantom said: Have any of them suggested that a VAT cut would be passed onto clients? Surely this is to allow Hospitality to make more profit by paying less tax? Their whole point is that they have to make more profit in order to be financially viable and actually stay in business. They can only do that if customers can afford to patronise their premises. If they don't pass on some of the cuts, partly or in whole, nothing will change in that respect. And if the proposed minimum wage rise is adopted, watch the brewery, for instance stick 20p on a pint straight away which will further deter spend. Edited April 24 by Non-Believer Typo 1 1 Quote Link to comment Share on other sites More sharing options...
english zloty Posted April 24 Share Posted April 24 Panic over. https://www.manxradio.com/news/isle-of-man-news/ministers-to-meet-with-lva-to-discuss-hospitality-concerns/ Quote Link to comment Share on other sites More sharing options...
WTF Posted April 24 Share Posted April 24 3 hours ago, Derek Flint said: https://www.itv.com/news/granada/2024-04-24/manx-businesses-say-hospitality-sector-is-in-crisis-due-to-rising-costs Made the 6pm ITV NW news. Not a great look not likely too inaccurate either, i know someone who was looking to come over for a visit mid summer with a car and trailer and the boat price put them off, they said if they won the lottery they would reconsider, they have been coming over every few years for quite a while but the racket fares have become the last straw. 1 Quote Link to comment Share on other sites More sharing options...
jackwhite Posted April 24 Share Posted April 24 10 hours ago, 2112 said: CM Cannan and Co have been resolute in their approach, especially with their comments about they can’t help everyone. It’s taken a meeting of the LVA which was well publicised, followed by roadshows, and publicity on an almost daily basis of hospitality businesses closing. Yes, it’s good that they are meeting with the LVA, but unless there is plan or practical ideas , then it’s just spin and waffle. If hospitality get additional support, other businesses will cry out that they are suffering, and will want support. I don't know how many times I have to say this, the proposals put forward are not just for hospitality. They would extend to every industry. 2 hours ago, Ringy Rose said: Licensed premises didn’t reduce their prices for spirits last year when the standard shot size dropped from 28ml to 25ml. They kept the prices the same and just pocketed the 10%. It would be the same with VAT. Anyone who claims that VAT reductions would be passed on to customers is either deluded or a liar. And the reduction in VAT income would have to be found from somewhere. As has been pointed out to you already, no one is saying they will be passing any savings onto the customers. Why would a hospitality business, which is already struggling, if it got help, then give it away immediately? Even if you say there's increased footfall because the price is cheaper (and that's unlikely) then they wouldn't really gain out of it. 1 Quote Link to comment Share on other sites More sharing options...
woolley Posted April 24 Share Posted April 24 3 hours ago, A fool and his money..... said: You should become an MHK. Your lazy, unimaginative view of the world would fit right in. We're well on the way to becoming an island of 100,000 busy fools. Our young people can't afford to live here, public services are going to hell in a handcart and everything else costs a fortune. Talk about the tail wagging the dog. We need to rethink why we have an economy and what we want from our society. An industry needs to be more than something that stops us getting board between meals, it needs to provide us with a living too. No, I think you should. Show us where we've been going wrong by pandering to the rich and the finance sector. I haven't seen you come up with any great ideas up to now. If you think the current economy doesn't provide us with a living, it will be illuminating to discover what kind of living we have after taking your medicine. 1 1 Quote Link to comment Share on other sites More sharing options...
jackwhite Posted April 24 Share Posted April 24 1 hour ago, Non-Believer said: They can only do that if customers can afford to patronise their premises. If they don't pass on some of the cuts, partly or in whole, nothing will change in that respect. And if the proposed minimum wage rise is adopted, watch the brewery, for instance stick 20p on a pint straight away which will further deter spend. It's a big if, but if the proposals they want were actioned, then most would, I hazard a guess from the meeting I was at, do ok. At the moment they are struggling, so any relief for them would be welcome. The real concern is if and when the new minimum wage is introduced. That will, again from what I can gather, cripple most of them. 2 Quote Link to comment Share on other sites More sharing options...
A fool and his money..... Posted April 24 Share Posted April 24 9 minutes ago, woolley said: it will be illuminating to discover what kind of living we have after taking your medicine. It'll be even more illuminating to see what kind of a living we have after another decade of mindlessly following yours, without question. I'll give you a clue, the present shit-show is only the tip of the iceberg. Quote Link to comment Share on other sites More sharing options...
Ringy Rose Posted April 24 Share Posted April 24 36 minutes ago, jackwhite said: As has been pointed out to you already, no one is saying they will be passing any savings onto the customers. Why would a hospitality business, which is already struggling, if it got help, then give it away immediately? I’m well aware that they won’t pass the savings on to customers, they’ll pocket it for themselves. That lost VAT will need to be found from somewhere else, all in the week when my income tax has gone up by £40 a month. Nurses for Manx Care, or propping up a failing restaurant. Tough choices. 1 Quote Link to comment Share on other sites More sharing options...
A fool and his money..... Posted April 24 Share Posted April 24 4 minutes ago, Ringy Rose said: I’m well aware that they won’t pass the savings on to customers, they’ll pocket it for themselves. That lost VAT will need to be found from somewhere else, all in the week when my income tax has gone up by £40 a month. Nurses for Manx Care, or propping up a failing restaurant. Tough choices. There's obviously not too many tough choices in your life, If your income tax has gone up £40 a month. Quote Link to comment Share on other sites More sharing options...
jackwhite Posted April 24 Share Posted April 24 (edited) 15 minutes ago, Ringy Rose said: I’m well aware that they won’t pass the savings on to customers, they’ll pocket it for themselves. That lost VAT will need to be found from somewhere else, all in the week when my income tax has gone up by £40 a month. Nurses for Manx Care, or propping up a failing restaurant. Tough choices. You're not being asked to prop up anything. Firstly, Manx Care has had 350 new nurses in the not too distant past, according to Cannan tonight. Could they be doing with more? Probably. Most hospitality businesses are struggling, they won't be 'pocketing' anything. They'll be doing their best to keep businesses going and giving these 'nurses for Manx Care' somewhere to go when they get here, if they get any more. If you've no hospitality businesses or little in the way of them, do you think those nurses are going to be desperate to move here in the first place or stay long? I think we all know that total abolishment of VAT is not something likely to happen. It wasn't actually the rhetoric that was given in the LVA meeting originally. However a couple of businesses sidelined the issue and then insisted on a full VAT abolishment to be the proposal. Bizarrely, of the two leading the call, neither were actually licensed businesses. But that's a minor point, as I said the initiatives are to help everyone, not just the licensed sector. Edited April 24 by jackwhite Quote Link to comment Share on other sites More sharing options...
Anthony Ingham Posted April 24 Share Posted April 24 1 hour ago, jackwhite said: s has been pointed out to you already, no one is saying they will be passing any savings onto the customers. Why would a hospitality business, which is already struggling, if it got help, then give it away immediately? Drop your prices and maintain the same margin and you might get more business and so more profit. Why should hospitality get a government funded boost to their margin when nobody else is? Quote Link to comment Share on other sites More sharing options...
woolley Posted April 24 Share Posted April 24 52 minutes ago, A fool and his money..... said: It'll be even more illuminating to see what kind of a living we have after another decade of mindlessly following yours, without question. I'll give you a clue, the present shit-show is only the tip of the iceberg. Our problem is the cost of the bloated government bureaucracy. 4 Quote Link to comment Share on other sites More sharing options...
Anthony Ingham Posted April 24 Share Posted April 24 53 minutes ago, A fool and his money..... said: It'll be even more illuminating to see what kind of a living we have after another decade of mindlessly following yours, without question. I'll give you a clue, the present shit-show is only the tip of the iceberg. It might be news to you, but a lot of people here are living very good lives and making very good money. 1 Quote Link to comment Share on other sites More sharing options...
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