GDP
Reporting focuses on the implications of UK economic growth data for the foodservice and hospitality sector, including how GDP trends affect consumer spending, investor confidence, supply chain stability, and business sentiment. Coverage is designed to help operators, F&B executives, and catering professionals assess macroeconomic conditions that influence trading performance, expansion plans, and long-term resilience.
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Oct- 2021 -27 OctoberNews
Chancellor unveils 50% rates discount for Retail, Hospitality and Leisure
Chancellor Rishi Sunak has unveiled a 50% discount on business rates for the hospitality, retail and leisure sectors (up to £110,000), equating to a business tax cut worth £1.7bn, the biggest single-year rates cut for firms in over 30 years. Unveiling his latest Budget in the Commons today (27 October),…
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25 OctoberTrade Associations
Over 200 CEOs sign letter urging chancellor to permanently keep 12.5% VAT
Over 200 chief executives of the UK pubs, bars, restaurants, cafés, hotels, leisure parks, nightclubs, entertainment venues, and visitor attractions have signed a letter to the chancellor urging for a permanent cut to VAT. Ahead of his Budget next Wednesday (27 October), industry leaders have called for a permanent reduced…
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14 OctoberBusiness
UK GDP grows 0.4% in August amid hospitality boost
Gross domestic product (GDP) is estimated to have grown by 0.4% in August 2021, and was boosted by the hospitality sector, according to the latest Office of National Statistics data. Services output grew by 0.3% in August 2021 with output in consumer-facing services increasing by 1.2%, while all other services…
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Sep- 2021 -30 SeptemberBusiness
Hospitality and leisure to add extra £3.5bn to UK economy
The hospitality and leisure industry is predicted to contribute £3.5bn more to the nation’s GDP this year than in 2019, according to Barclays Corporate Banking. In its new report, Leisure Rediscovered, Barclays’ data shows that the vast majority of hospitality and leisure businesses (94%) are confident about their growth prospects…
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10 SeptemberBusiness
UK economic growth slows, ONS reveals
UK economic growth slowed down in July, growing by 0.1% compared with 1% in June 2021, according to the latest data by the Office of National Statistics (ONS). With the spread of the Delta variant and the “pingdemic” taking its hold in July, gross domestic product (GDP) still remains 2.1%…
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Aug- 2021 -13 AugustTrade Associations
Hospitality contributed to 40% of Q1 to Q2 economic growth, says UKH
The hospitality industry reportedly contributed to 40% of the UK’s total economic growth between Q1 and Q2 2021. The figure comes from the latest UKHospitality Quarterly Tracker, produced by CGA, which followed ONS data revealing the UK GDP to have grown 4.8% in June. Kate Nicholls, chief executive at UKH,…
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12 AugustGovernment
UK economy surges 4.8% in June
The UK economy grew by 4.8% in June as Covid-19 restrictions surrounding retail and leisure were eased across the UK, according to figures published by the Office of National Statistics (ONS). Gross domestic product (GDP) is estimated to have grown for a fifth consecutive month in June 2021, by 1.0%,…
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Jul- 2021 -29 JulyBusiness
Hospitality investment slumps 52% in Q1
Investment in the hospitality industry reportedly dropped 52% year-on-year to £649m in the first three months of 2021. According to analysis of ONS data conducted by business tax relief consultancy group Catax, UK business investment in hotels and restaurants fell £702m from Q1 FY20’s £1.4bn of investments. The figure also…
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Jun- 2021 -7 JuneBusiness
Hospitality business investments fell 13.7% last year
Business investment in the hospitality industry fell 13.7% last year, according to the latest analysis of ONS data by business tax relief specialist Catax. Business investment in hotels and restaurants also fell by £621m in 2020, dropping from £4.6bn in 2019 to £3.9bn. The sector also recorded a big slump…
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Feb- 2021 -12 FebruaryGovernment
UK suffers record 9.9% GDP slump
GDP declined by 9.9% in 2020, a figure which is more than double of what was recorded in 2009 after the UK’s financial crisis. According to the ONS, the fall was largely due to restrictions which were in place for most of the year, forcing the economy to operate at limiting trading levels. Figures…
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