right now, to pass a plan that finally takes it on. this isn t just another vote, it s your moment to get it right for them. congress, pass the build back better act.
earlier this year cnn observed very few guests staying there. and you hear that time to time from people around washington. how does trump process things when business isn t booming in the way that he likes to brag about? well, first of all, he lies to himself, and then he lies to everybody else. you have to remember the foundational lie of donald trump s life is that he s a good businessman. but he is the fellow who went bankrupt multiple times running casinos. and, casinos, you really have to try hard, you have to be terrible going bankrupt running a casino because they are in your favor every day. so this former president, the former guy is going around saying that he made $150 million when in fact he lost 70 million. he is now trying to sell the hotel or at least the rights to operate in that building.
this weekend and it s all because of changes to vat. the rate of vat was cut from 20% to 5% during the pandemic to support the hospitality industry and try to protect jobs. and businesses will have to pay the higher rate of 12.5% from october. ben thompson, our business corresponded, is at a pub in london. your point on saturday night, your chicken roast on sunday could cost a little bit more from this weekend. that is because some of the tax changes that were brought in to give business a bit of a boost in the pandemic have started to rise again. it will be a phased and gradual increase but nonetheless, there are concerns it could hit one of the industry that has been hardest hit by covid. as my colleague, kd austin has been finding out. kitchens like these have been up and running again for a few months now but the financial shock of lockdowns means business isn t quite back to normal. this birmingham restaurant
more. the tax cuts were brought in to give businesses a boost during the pandemic but they will raise again, it will be a gradual increase but nevertheless there are concerns it could hit one of the industry that has been hardest hit by covid. as my colleague katie austin has been finding out. kitchens like these have been up and running again for a few months now but the financial shock of lockdowns means business isn t quite back to normal. this birmingham restaurant group now only opens at busier times. we used to open at lunch times.
because some of the tax cuts to give business a boost during the pandemic start to rise again. it is a phased, gradual increase but nonetheless there are concerns that it could hit one of the industries that has been hardest hit by covid. as my colleague katy austin has been finding out. kitchens like these have been up and running again for a few months now but the financial shock of lockdowns means a business isn t quite back to normal. this birmingham restaurant group now only opens at busier times. we used to open at lunchtimes during the week and we ve stopped and we used to run for six days and now we just do four days. the manager says government support has been a lifeline, not only furlough but other measures including the temporary cut to vat. we pay vat or value added tax on a wide range of goods and services that we buy and the standard rate is 20%. in july last year, the chancellor