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<p>The temporary reduced rate of VAT was introduced on 15 July to support the cash
flow and viability of over 150,000 businesses and protect 2.4 million jobs in the
hospitality and tourism sectors, and will run until 31 March 2021.</p><p> </p><p>This
policy will cost over £2 billion and it is necessary for a boundary for eligibility
to be drawn. The Government keeps all taxes under review, and any future decisions
on tax policy will be made at Budget.</p><p> </p><p>The Government has announced a
significant support package to help businesses from a whole range of sectors through
the winter months, which includes an extension of the Coronavirus Job Retention Scheme,
an extension of the Self-Employment Income Support Scheme grant, and an extension
of the application window for the Government-backed loan schemes.</p><p> </p>
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