Wetherspoons are to slash food and drink prices by 7.5 per cent for one day only later this month - and pub chain bosses have explained why.

Here's everything you need to know.

Why are the pub chain cutting prices?

The move comes as UK pubs aim to highlight the benefit of reduced VAT in the hospitality sector.

What day will Wetherspoons cut prices?

They will take part in the scheme on Thursday, September 24.

The Part of Tax Equality Day, the campaign aims to lower the tax burden on pubs across the UK. All food and drink sold in pubs is usually subject to 20 per cent VAT. The same levy isn't applied to most food items sold in supermarkets.

Wetherspoons has cut its prices to mark Tax Equality Day for the past eight years.

What has Tim Martin said about the price cuts?

Company founder Tim Martin, said: “Pubs have been under fantastic pressure for decades due to the tax disadvantages they have with supermarkets.

“We are urging the Chancellor to create tax equality between pubs and supermarkets by making the current VAT regime for pub food and soft drinks permanent.”

What will the price cuts get you?

The price cut will reduce the price of a beer and burger meal at Wetherspoons from £6.29 to £5.82.

For example, an 11 inch margarita pizza with Pepsi will cost £5.08.

Where and when will the deal be available?

The price cut is taking place on Thursday, September 24, 2020.

The 7.5 per cent discount applies to all food and drinks sold in Wetherspoons pubs across England, Wales and Northern Ireland.

In Scotland, prices will be reduced on all food, non-alcoholic and hot drinks, but not alcoholic drinks, due to licensing restrictions.

Prices at Wetherspoons vary between locations, and many prices across the pubs have already been slashed by up to 28 per cent, following a VAT holiday announced by Chancellor Rishi Sunak in July.

Unlike the Tax Equality Day discount, the VAT holiday doesn’t apply to alcohol, but the pub chain reduced prices of some ales anyway.