The Restaurants Association says that 212 restaurants, cafes and food-led businesses have closed down so far this year, costing the economy up to €288m annually
Each closure results in the State losing up to €1.36m in value, as well as 22 jobs on average
On average, each closure results in the loss of €576,554 in gross wages, as well as other financial losses such as payroll taxes, VAT receipts, taxes to local authorities, and water charge receipts
The RAI is calling for a return to the 9pc VAT rate for food-related businesses to help prevent further closures and economic losses
