Treasury
Reporting covers fiscal policy, taxation, funding schemes, and economic measures introduced or influenced by HM Treasury that directly affect UK hospitality and foodservice businesses. Coverage includes Budget announcements, VAT and duty changes, business rates policy, and support schemes, offering essential context and guidance for operators navigating the financial and regulatory landscape.
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May- 2021 -10 MayBusiness
UKH calls on gov to improves capital access for businesses
UKHospitality is calling on chancellor Rishi Sunak for further support by improving access to capital for businesses and sticking to the government’s roadmap of lifting restrictions after 21 June 2021. The latest data from CGA’s Drinks Recovery Tracker showed that during the Bank Holiday weekend, many operators and drinks sales…
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Apr- 2021 -1 AprilGovernment
Treasury Committee launches inquiry into job recovery post-Covid
The Treasury Committee has announced it has launched an inquiry into job, growth and productivity recovery after the pandemic. The cross-party group of MPs will examine how the government can reduce and mitigate the economic damage and job losses resulting from the pandemic. Mel Stride MP, chair of the Treasury…
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Mar- 2021 -25 MarchTrade Associations
Business rates relief cap may ‘jeopardise’ sector recovery, warns UKH
UKHospitality (UKH) has warned that the business rates relief cap could “jeopardise” the hospitality sector’s economic recovery following the pandemic. Analysis from the trade association reveals almost 8,000 business venues, employing an estimated 343,000 people will be paying full rates in July, despite Budget measures to soften the acute rates…
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3 MarchEducation
Hospitality sector urges gov to protect apprenticeship funding
Hospitality industry leaders are calling on the government to “throw a protective ring” around apprenticeships funding and youth employment in the sector, in order to make the training and development of the future hospitality workforce a “cornerstone of the recovery”. Leaders from a cross-section of the industry, including charities, trade…
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Feb- 2021 -24 FebruaryCoronavirus
Chancellor expected to extend furlough until May
Chancellor Rishi Sunak is expected to announce a further extension to the government’s furlough scheme until May in his Budget speech next week. According to The Times, the move is expected after Boris Johnson promised not to “pull the rug out” from businesses when restrictions eventually begin to ease under…
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2 FebruaryBusiness
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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Jan- 2021 -28 JanuaryCoronavirus
Pandemic cost hospitality £200m a day in 2020
The pandemic and ensuing lockdowns cost the hospitality sector nearly £200m a day or £8m per hour in lost sales last year, with turnover less than half of 2019 levels, according to new data from UKHospitality and CGA. The latest edition of their quarterly tracker reveals that sales across restaurants,…
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27 JanuaryGovernment
Finance minister: ‘no current plans’ to extend VAT cut
Jessie Norman, MP for Hereford and South Herefordshire and financial secretary for the treasury, has revealed there are “no current plans” to extend the VAT cut for the hospitality and tourism sectors. Following a question on the matter from Scott Benton, MP for Blackpool, Norman said: “The temporary reduced rate…
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19 JanuaryGovernment
Sunak looks to raise corporation tax in March budget
Chancellor Rishi Sunak is reportedly looking to raise corporation tax in the upcoming March budget to pay off the estimated £400bn borrowed by the UK throughout the pandemic. According to The Financial Times, the alleged move has sparked uproar among business owners who claim they are still struggling with the economic impact of Covid-19. However, it…
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11 JanuaryPubs and Bars
37 pubs closed every month in 2020
Around 37 English and Welsh pubs closed every month in 2020, according to analysis of official government data by real estate adviser Altus Group. The research showed that the overall number of pubs in England and Wales, liable for business rates, including those left vacant and being offered to let,…
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