Kwasi Kwarteng

Business energy bills to be capped under new gov scheme

The government has unveiled a new plan that is set to cap wholesale energy bills for businesses for an initial six-month period from 1 October.  The Government Energy Bill Relief Scheme, unveiled today (21 September) by business secretary Jacob Rees-Mogg, will reportedly bring support for households, businesses and public sector…

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Rishi Sunak to become next PM

Rishi Sunak is set to become the next leader of the Conservative party and the UK prime minister after becoming the sole candidate to surpass the threshold of 100 votes. Penny Mordaunt announced she was withdrawing from the race only minutes before the nominations deadline at 14:00 BST today (24…

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Liz Truss steps down as prime minister 

Liz Truss has announced that she is standing as prime minister after a turbulent week for the government, just six weeks after taking up the premiership. The statement of her resignation was made at 13:30pm today (20 October) following a meeting between Truss and Sir Graham Brady, chairman of the…

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Alcohol duty u-turn a ‘huge blow’, says BBPA

Trade bodies in the hospitality industry have criticised the decision to scrap the proposed freeze on alcohol duty, claiming it represents a “huge blow” to pubs and brewers. Newly appointed chancellor of the exchequer Jeremy Hunt confirmed a u-turn on the planned freeze of alcohol duty proposed by his predecessor…

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Chancellor reverses almost all mini-budget tax cuts

Newly appointed chancellor Jeremy Hunt has reversed almost all of the mini-budget commitments made by previous chancellor Kwasi Kwarteng last month, in a statement made at the Treasury today (17 October). He confirmed the basic rate of income tax will remain at 20% “indefinitely” until the economic situation stabilises, marking…

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Chancellor announces sweeping tax cuts in first mini-budget

Chancellor Kwasi Kwarteng has today (23 September) announced a ream of tax cuts alongside a £60bn energy support package as part of the new government’s first mini-budget. Setting out his aims for economic growth, Kwarteng said that he wants the economy to increase by 2.5% annually in the medium-term, through…

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UKH calls for action as 1 in 5 businesses warn of collapse

UKHospitality has called on the government for increased support as a new survey has found that one in five hospitality businesses saying they will not survive the current crisis, while three in five operators admitted they are no longer profitable. The findings come from a recent survey of hospitality operators,…

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Kwasi Kwarteng confirmed as headline speaker at UKH annual conference

UKHospitality is set to welcome business secretary Kwasi Kwarteng as the headline speaker at its upcoming annual conference. Kwarteng will join a “stellar” line-up of sector leaders on the day, including Paul Pomroy, CEO of McDonalds UK, Karin Shepard, European MD of InterContinental Hotels Group and Nick Mackenzie, CEO of…

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Labour warns 650,000 hospitality business at risk of collapse

The Labour Party has accused the government of “economic negligence” as it has estimated 650,000 hospitality businesses could collapse in the next three months amid reports of the current lockdown lasting until May. New analysis by the opposition party, based on the latest ONS data, has revealed an “underlying cash…

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UKH calls for investigation into hospitality energy market

UKHospitality has written to the energy minister Kwasi Kwarteng calling on the Government and watchdog Ofgem to investigate unfair practices in the energy market. The trade body said it has been contacted by hospitality businesses with evidence that they are being “unfairly targeted” by energy firms. UKHospitality chief executive Kate…

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