Rishi Sunak
Coverage focuses on government policy, fiscal decisions, and public statements affecting the UK hospitality and foodservice sector, as shaped by the former Chancellor and Prime Minister. From Budget announcements and VAT policy to business rates, inflation, staffing, and energy support, reporting examines how leadership decisions impact restaurant groups, pub operators, caterers, and hospitality businesses across the country.
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Mar- 2020 -23 MarchCoronavirus
PM bans ‘non-essential retail’, instructs public to stay at home
The UK public are only allowed to venture out of their homes for essential supplies and one exercise outing per day, or face fines, under new measures introduced this evening by the prime minister. In a recorded address filmed in No 10 Downing Street, Boris Johnson said the police will…
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18 MarchBusiness
Chancellor extends rent holidays to all hospitality businesses
All hospitality businesses are eligible for a one-year business rates holiday after the chancellor, Rishi Sunak, announced a series of new measures to help weather the financial strain caused by the coronavirus outbreak. Last week in his maiden Budget Speech the chancellor, Rishi Sunak, announced a one-year rent holiday for…
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11 MarchBusiness Bites
ROUNDUP: Business rates holiday announced by chancellor Sunak
In his maiden budget, the new chancellor, Rishi Sunak, has announced a £30bn fiscal stimulus package to help combat the impact of coronavirus on the British economy including a one-year total suspension of business rates for small retail, leisure and hospitality businesses. Headline measures include: A £12bn plan to provide…
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11 MarchBusiness
Bank of England cuts interest rates to help combat coronavirus impact
The Bank of England has cut UK interest rates back down to the lowest level in history to help mitigate the impact of the coronavirus outbreak on the economy. The governor of the Bank of England, Mark Carney, announced the 50 basis point (0.5 percentage point) reduction, from 0.75% to…
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2 MarchBusiness Bites
Entrepreneurs relief may be scrapped by Sunak
The new chancellor, Rishi Sunak, may scrap entrepreneur’s relief to raise £3bn a year as a means to bring in some extra dosh for the Treasury. Sunak will undoubtedly be looking for ways to raise extra revenue given the government’s infrastructure spending plans as it seeks to make a visible…
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Feb- 2020 -14 FebruaryBusiness Bites
German stagnation, Javid out, RBS gets environmental, Norton no-show
The German economy has stagnated due to significant falls in spending and exports. New figures show that GDP ‘flat lined’ (financial jargon for neither growing nor contracting) in the final quarter of 2019, bad news since economists and analysts had hoped that it would grow about 0.1%. It means Germany’s…
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