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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Feb- 2021 -1 FebruaryCoronavirus
UKH calls for VAT and rates support after ‘worst year on record’
UKHospitality has called for a further extension of VAT and business rates support from the government after the “worst year of trading on record” has left enormous swathes of the hospitality sector on the “verge of collapse”. The plea follows recent figures from UKHospitality’s quarterly sales tracker, in partnership with…
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Jan- 2021 -15 JanuaryCoronavirus
UK GDP shrinks by 2.6%
GDP declined by 2.6% in November 2020 as government restrictions reduced economic activity, the latest ONS figures reveal. Figures released by the statistics office show that November GDP was 8.5% below its pre-pandemic levels. The decline follows a period of economic growth for the UK, with last October’s report revealing that the country had grown a…
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Dec- 2020 -11 DecemberNews
Hospitality restrictions have halved economic growth, UKH claims
UKHospitality has claimed that restrictions on the country’s hospitality sector have almost halved the UK’s economic growth, with the situation only likely to get worse. The report follows the new figures released by the Office for National Statistics (ONS) which showed that nearly half (45%) of UK businesses currently trading…
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Oct- 2020 -9 OctoberGovernment
Hospitality sector demands ‘clarity’ amid closure rumours
Hospitality workers in the North of England are requesting clarity from UK government officials following news that restaurants and bars may have to close from Monday. According to Sky News, ministers are said to be still finalising a “traffic light system plan” where different areas of England with the highest…
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Sep- 2020 -7 SeptemberCoronavirus
GDP to contract £15.3bn each year if home working persists
Lower consumer spending and a decrease in economic clustering if pandemic levels of home working persist would reduce UK GDP by £15.3bn every year, according to new research published by PwC. The ‘Big Four’ accountancy firm said the hit to consumption is a result of office workers spending fewer days…
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3 SeptemberComment
HMRC and Covid-19: One hand giveth, the other taketh away
One hand giveth HMRC was responsible for overseeing and implementing the Government’s Coronavirus Job Retention Scheme (“CJRS”) and other furlough schemes. Its ensuring that monies were paid under the Government’s various furlough support schemes has been impressive. Although the guidance on who was entitled to monies under the CJRS was…
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Aug- 2020 -24 AugustCoronavirus
Record economic growth anticipated for Q3
The UK is reportedly on track for a record economic resurgence during the third quarter of the year, following sharp declines in GDP at the peak of the Covid-19 pandemic in Q2. According to the Financial Times (FT), City of London economists have predicted a 14.3% rise in GDP for…
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12 AugustCoronavirus
UK in recession following 20% GDP slump
The UK economy has entered into a “technical recession” following a “record” fall in gross domestic product (GDP) during the second quarter of the year. According to the Office for National Statistics, GDP slumped by 20.4% between April and June 2020, compared with the 2.2% drop seen during Q1 2020…
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5 AugustAdvice
Managing waste in the hospitality industry
With more than 127, 000 hospitality employing more than 3.2 million people, it should come as no surprise that the UK’s hospitality industry is one of the largest. Approximately 10% of the country’s workforce is employed within hospitality, the third largest private sector employer, which also provides five % of…
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Jul- 2020 -21 JulyCoronavirus
Hospitality trade bodies outline ‘road to recovery’
A new report from UKHospitality and CGA has revealed the scale of impact Covid has had on the hospitality sector, and outlines what the industry can do to recover both sales and consumer confidence. According to the trade bodies, “rigorous” safety measures, industry collaboration and government support can “speed the…
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