French restaurant prices to be slashed?

Restaurant meals in France could now be dramatically cheaper

Even better value in the future at Le Pot de Lapin in Saumur

Agreement was reached at a meeting of EU finance ministers on Tuesday 10th March that VAT rates within the European Union could be varied from sector to sector. Hitherto there has been pressure that an EU country should have only one VAT rate. This would have meant that the 5.5% rate on home improvements and repairs on French houses more than two years old would have been scrapped and the full TVA rate of 19.6% would have been levied.

Val de Vienne, Sazilly near Chinon

The agreement will allow France to lower its rate of TVA on restaurant meals. This could go as low as 5.5%. Apparently there is due to be a meeting between the French Government on Monday. There are reports that the Government wants 12%, while some restaurateurs will push for 5.5% and others may be happy with 8% as a compromise.

I gather that the agreement will also allow the VAT on shoe repairs to be reduced!

This looks to be particularly good news given the way Sterling has nose-dived against the euro recently.