Office for Budget Responsibility

  • Jun- 2025 -
    11 June
    Trade AssociationsUKH calls for NIC rethink as 100,000 jobs lost in May

    UKH calls for NIC rethink as 100,000 jobs lost in May

    UKHospitality has called for the increase in employer National Insurance Contributions (NICs) to be reconsidered, as new figures from the Office for National Statistics (ONS) indicate that more than 100,000 jobs were lost in May as a direct result.  The Labour Market Overview, which was published today (11 June), estimates…

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  • Mar- 2025 -
    26 March
    GovernmentChancellor resists calls for business relief in Spring Statement

    Chancellor resists calls for business relief in Spring Statement

    Chancellor Rachel Reeves has resisted calls from businesses for relief ahead of the upcoming tax changes this April, as part of her Spring Statement today (26 March). UK businesses had been hopeful the chancellor would raise the relief rate for retail, hospitality, and leisure after cutting it to 40% in…

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  • May- 2024 -
    31 May
    OpinionAre we really out of the woods?

    Are we really out of the woods?

    For most of us in hospitality: the last nine to 12 months have been very challenging indeed. One well known operator said to me recently that these were the worst trading conditions he had encountered in 40 years. My hospitality career nowhere near stretches that long, but I agree with…

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  • Apr- 2024 -
    30 April
    Food and DrinkFoodservice price inflation below 10% for first time since 2022

    Foodservice price inflation below 10% for first time since 2022

    Foodservice price inflation has fallen below 10% for the first time in two years, according to data from CGA. This comes after a 1.4% decline in foodservice price inflation in March, the largest month-on-month decline ever recorded by the Foodservice Price Index. The softening of inflation has also been seen…

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  • Mar- 2023 -
    15 March
    NewsSpring Budget: Corporation tax to rise to 25%

    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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  • Oct- 2021 -
    27 October
    NewsChancellor unveils 50% rates discount for Retail, Hospitality and Leisure

    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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  • Mar- 2021 -
    3 March
    GovernmentBudget 2021: Chancellor unveils new £65bn support package

    Budget 2021: Chancellor unveils new £65bn support package

    Chancellor Rishi Sunak has outlined a new £65bn support package in his March budget, confirming the decision to extend the furlough scheme until the end of September as well as new loan schemes of up to £10m for businesses. In what is Sunak’s second budget since he joined office in…

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  • Apr- 2020 -
    16 April
    CoronavirusGovernment extends lockdown for ‘at least’ three more weeks

    Government extends lockdown for ‘at least’ three more weeks

    The government has announced an extension to the coronavirus lockdown for “at least” a further three weeks.   The decision was announced at today’s (16 April) press briefing which was led by foreign secretary Dominic Raab. It also comes after Raab led an emergency Cobra committee and cabinet meetings about…

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  • 16 April
    CoronavirusUK hospitality job market most affected by Covid-19 outbreak, study finds

    UK hospitality job market most affected by Covid-19 outbreak, study finds

    UK job vacancies plummet 42% in the year to date as a result of the Covid-19 Pandemic, according to the latest research by job search engine Adzuna.co.uk. The group said the hospitality and catering industry continues to be the “biggest casualty” in the UK job market, losing nearly three quarters…

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