Jeremy Hunt

UKH calls for CMA investigation into business energy market

UKHospitality has called for the Competition and Markets Authority (CMA) to conduct an investigation into the non-domestic energy market.  In a letter addressed to CMA boss, Sarah Cardell, the trade body said the criteria for a Market Investigation Reference (MIR) has been “undoubtedly met”, including reasonable grounds for suspecting competition…

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Chancellor cuts NI by a further 2p as part of Spring Budget

Chancellor Jeremy Hunt has announced a further 2p cut to National Insurance falling from 10% to 8% from 6 April, as part of his Spring Budget for “long-term growth”. The reduction in National Insurance is expected to save the average worker £450 a year, or £350 for those who are…

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Costa Coffee to boost pay in April

Costa Coffee has announced that from 1 April 2024 it will increase pay rates for over 15,000 team members in its 1,500 UK company-owned stores.  This is the fifth time the company has increased pay rates for store team members since April 2021.  As part of an investment of over…

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Today’s news in brief – 02/01/24

The DLUHC has allocated £25m from the Community Ownership Fund to aid over 70 pubs, cinemas, and museums across the UK. This funding aims to sustain the operations of these community assets and ensure safety in communal areas. Each selected project will receive up to £2m, with 26 community centres,…

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UKH sets out plan for 2024

UKHospitality has unveiled a three-point plan which it will focus on in 2024 to put hospitality at the “front and centre of policy making” ahead of the next General Election. The plan includes generating investment through root and branch reform of business rates, creating jobs through Apprenticeship Levy reform and…

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Chancellor extends business rates relief for hospitality

Chancellor Jeremy Hunt has announced a series of measures to help boost the UK economy as part of his Autumn Budget including slashing National Insurance by 2% and freezing business rates for retail and hospitality. As part of the new measures, Hunt revealed that National Insurance will be cut from…

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Spring Budget: Corporation tax to rise to 25%

Corporation tax is set to rise from 19% to 25% for firms with profits over £250,000, as part of a number of measures announced in chancellor Jeremy Hunt’s Spring Budget.  To help offset the corporation tax rise, Hunt also announced a provision of £9bn of “full capital expensing” which for…

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Gov confirms alcohol duty freeze extension

The government has announced that the freeze on alcohol duty has been extended for a further six months to 1 August 2023. In a statement to the House of Commons, Exchequer Secretary to the Treasury James Cartlidge laid out a plan aiming to give certainty to people in the catering…

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Chancellor freezes tax thresholds in Autumn statement

Chancellor Jeremy Hunt has announced a raft of measures to help “stabilise” the UK economy and reduce inflation, with tax cuts and spending cuts totalling £55bn in the Autumn statement. As part of the new measures, Hunt confirmed that tax as a percentage of GDP will rise by over 1%…

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Hospitality most likely to cut trading to combat energy costs

Hospitality businesses are more likely to cut trading hours in an attempt to cut energy costs, according to the ONS Business Insights and Conditions Survey (BICS). More than one in five hospitality businesses that were still trading in October 2022 reported that they had reduced trading hours while keeping the…

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