NTIA and IoH join forces on hospitality survival campaign
The united campaign comes ahead of the Spring Budget, due to be announced on 6 March 2024, with both bodies hoping to advocate for their members
The Night Time Industries Association (NTIA) and Institute of Hospitality (IoH) have announced they are joining forces on the Leave No One Behind campaign.
The campaign is aimed at advocating for the survival and recovery of their collective membership of over 20,000 businesses in the UK.
The united campaign comes ahead of the Spring Budget, due to be announced on 6 March 2024, with both bodies hoping to advocate for their members.
The campaign is calling for a reduced VAT rate of 12.5% across the hospitality, late-night economy, and events sector for the next 12 months and a freeze on Alcohol Duty for the next 12 months.
A recent survey conducted by the NTIA revealed that seven out of 10 businesses are either barely breaking even or operating at a loss, with nearly half expressing doubts about their survival in the next 12 months.
Michael Kill, CEO of the NTIA, endorsed the importance of collaborating with the Institute of Hospitality on a pivotal campaign aimed at reshaping the trajectory of the crisis gripping the Night Time Economy and hospitality sectors. He underscored the imperative nature of reducing VAT to 12.5% for all businesses within these sectors, encompassing the entirety of the UK.
Emphasising the urgency of this initiative in safeguarding the survival of these enterprises during tumultuous times, he called upon the Chancellor to uphold this commitment, stressing the importance of inclusivity in the recovery endeavours, leaving no business behind.
Institute of Hospitality CEO Robert Richardson FIH MI added: “It is an incredibly tough economic climate, and our members and wider hospitality industry are continually updating us that they need additional support to help them continue. Without which many fear they will have to close their doors.
“The Institute’s role is to help support our members to prosper through investing in their people’s professional development and encouraging new talent into the industry. An industry we are incredibly passionate about. This campaign and the work of the NTIA will help protect the future of our members and every community across the UK.”
