Brits will eat at half price at some restaurants courtesy of the government, Yahoo Finance reports.
In an effort to encourage people to dine out after the coronavirus lockdown, the U.K. Treasury announced Wednesday it will give diners a discount on their tab for the entire month of August.
“Eat Out to Help Out” will give each patron up to £10, or about $12.57, off their meal, if they eat out between Monday and Wednesday at restaurants that sign up for the program. The discount can’t be used for the purchase of alcoholic beverages.
Bars and restaurants reopened in some parts of the country on Saturday after a three-month lockdown. The program will cost about £500 million, or about $629 million, according to Yahoo Finance.
The government estimates the subsidy program will help protect 1.8 million jobs. It predicts about 130,000 businesses will be eligible to participate in the program.
The U.K. Treasury reports that the accommodation and food industry has furloughed 1.4 million people since March. Only the retail sector experienced more furloughs.
“Each week in August, businesses can then claim the money back, with the funds in their bank account within five working days,” Chancellor Rishi Sunak said.
In addition, the government announced it cut a tax for food, accommodation and attraction businesses from 20% to 5% until January 2021.
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