Spring Budget
Reporting on government fiscal announcements and economic measures with direct impact on the UK hospitality and F&B sector. This section covers tax policy, business rates, VAT, employment costs, and investment incentives, offering analysis and reaction for operators, finance leads, and hospitality professionals preparing for the financial and operational implications of national budget decisions.
-
Jan- 2024 -2 JanuaryNews
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,…
Read More » -
2 JanuaryTrade Associations
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…
Read More » -
May- 2023 -17 MayComment
How can the hospitality sector prepare for the busy summer months?
Despite current economic headwinds, many businesses in the hospitality sector are looking for new ways of furthering growth opportunities in the upcoming summer months. In their 2023 sector outlook, Barclaycard revealed that consumer card spending on hospitality and leisure increased 10.6% year-on-year in 2022, as the lifting of all Covid-19…
Read More » -
Mar- 2023 -15 MarchNews
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…
Read More » -
14 MarchNews
Number of UK hospitality firms surges 17% in five years
The hospitality industry has experienced growth during the past five years, according to new findings collated by Business Name Generator. Using data from the ONS latest report on UK business activity, the number of accommodation and food services businesses has risen by 17% in five years, resulting in an additional…
Read More » -
1 MarchPeople
Record employment figures shows hospitality’s growth potential, says UKH
A record 2.6 million people are now employed in accommodation and food service, with the sector creating one in five new jobs, all despite “crippling vacancies” and staff shortages, according to the latest data from UKHospitality (UKH). Set to be announced at its inaugural Workforce and Skills Seminar, UKH will…
Read More » -
1 MarchPubs and Bars
2,000 pubs face closure without budget aid, industry warns
Some 2,000 pubs across the UK are facing closure, the British Beer and Pub Association (BBPA) has warned, as it urges the government to use the Spring Budget to offer a lifeline to the industry. The association has asked the government to deliver a plan for sustainable growth with “fair,…
Read More » -
Feb- 2023 -1 FebruaryBusiness
Hospitality braces for 101% rise in energy bills this quarter
Hospitality businesses are bracing for a 101% increase in energy bills this quarter, compared with the same period last year, according to the joint Q1 Hospitality Members Survey by UKHospitality, the British Beer and Pub Association, the British Institute of Innkeeping and Hospitality Ulster. The figures have been raised directly…
Read More » -
Dec- 2022 -20 DecemberGovernment
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…
Read More » -
Mar- 2021 -9 MarchFeatures
Government signals sunny days ahead for the hospitality industry
Over the past two weeks the government has shone a ray of light upon what was building towards a foreboding number of months ahead for the hospitality sector. However, do Boris Johnson’s “roadmap” to recovery and Rishi Sunak’s budget announcement entail a season of Spring sunshine or April showers ahead…
Read More »
