Treasury minister 'hopes' businesses will pass on VAT reductions to customers

Falling from 20% to 5% for certain activities over summer

Treasury has told Manx Radio it's hopeful businesses on the Island will pass on savings from a temporary VAT reduction to their customers.

Government is following a UK scheme and reducing the tax on children's meals in restaurants, family tickets to cinemas and shows, and admission to attractions.

It will drop from 20 percent to five percent until 1 September.

You can find out more HERE.

It's been pitched as families 'paying less for days out this summer' but it will be up to the businesses to decide whether they reduce their prices.

Minister Chris Thomas hopes they will: