Pubgoers are in for the chance to grab some cheap drinks and food menu items this month as Wetherspoon slashes prices. 

As part of Tax Equality Day, the pub chain will cut the prices of items by 7.5% for one day only. 

The discount is in a bid to help highlight the benefit of a permanent VAT reduction in the hospitality industry. 

That means that any Wetherspoon customer spending £10 on food and drinks will pay only £9.25 on Tax Equality Day.

Wetherspoon is offering discounted items for one day only 

In the hospitality industry, all food and drinks in pubs are subject to 20% VAT, whilst supermarkets pay zero VAT on food and according to Wetherspoon's they are able to use that saving to sell alcohol to customers at a discounted price.

The Bolton News: Tim Martin, founder of Wetherspoons.Tim Martin, founder of Wetherspoons. (Image: PA)

Discussing Tax Equality Day Wetherspoon’s founder and chairman, Tim Martin, said: “The biggest threat to the hospitality industry is the vast disparity in tax treatment among pubs, restaurants and supermarkets.

“Supermarkets pay zero VAT in respect of food sales, whereas pubs and restaurants pay 20 per cent.

“This tax benefit allows supermarkets to subsidise the selling price of beer.

“Pubs have been under fantastic pressure for decades, because of the tax disadvantages which they have with supermarkets.

“It doesn’t make sense for the hospitality industry to subsidise supermarkets."

As the Wetherspoon founder added: "Customers coming to Wetherspoon’s pubs on Thursday 14 September will find the price of their food and drinks to be lower than normal.

“We urge the chancellor to create tax equality between pubs and supermarkets.”

Tax Equality Day takes place at Wetherspoons on Thursday, September 14.