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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Feb- 2020 -24 FebruaryPubs and Bars
Calls for new Treasury minister to cut tax on beer sold in pubs
The Campaign for Real Ale (CAMRA) has written to the new chancellor and his Treasury team to call on them to slash tax on beer sold in pubs. With a new chancellor of the Exchequer, chief secretary to the Treasury and Exchequer secretary to the Treasury appointed in the recent…
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18 FebruaryBusiness Bites
HSBC to cut 35,000 jobs, new chancellor sticks to schedule, Bezos creates $10bn ‘Earth fund’
HSBC has announced plans to cut 35,000 jobs over the next three years after a dire set of financial results. Profits have fallen by 33% year on year and that is before the impact of the coronavirus can even be fully measured in Q1 and the months to come. The…
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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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Jan- 2020 -13 JanuaryComment
The future is digital: Why more restaurants are going cash-free
Only one in 10 transactions in the UK will use cash within the next decade. Or at least that’s what ITV’s Cash Free Britain? predicted on an ITV news report just last week. And this prediction is not as bold as it may seem upon first glance. Businesses and customers…
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Dec- 2019 -10 DecemberAnalysis
Year in review: trends and predictions for the hospitality sector
The UK hospitality sector continues to be an exciting industry to operate in. Up against a range of headwinds, not least the challenges of sustained political and economic uncertainty, the sector continues to prove its durability. In our Hospitality Index, we asked owners and operators of restaurants, pubs and bars…
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3 DecemberBusiness
Outstanding business rates challenges increase by 35%
The number of businesses waiting for challenges over soaring business rates to be resolved has jumped by more than a third in just three months, according to new figures issued by HM Revenue & Customs (HMRC). The figures revealed the number of outstanding challenges has increased by 35% fuelling concerns…
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Oct- 2019 -31 OctoberGovernment
Treasury Committee urges MPs to reform ‘broken’ business rates
The government has been urged to fix the “broken” business rates system as it is continuing to affect high street retailers, a Treasury committee has said. An influential group of MPs has asked the government to examine alternatives to property tax, which puts more pressure on high street retailers than…
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Feb- 2019 -1 FebruaryBusiness
MPs launch business rates inquiry
The Treasury Committee has launched a new inquiry into business rates to scrutinise how government policy has impacted high street businesses. The committee will examine how business rates policy has changed, including business rates retention, alternatives to property-based taxes, such as the proposed digital services tax. Nicky Morgan MP, chair…
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Dec- 2018 -4 DecemberBusiness
Food prices could rise 10% post-Brexit according to Bank governor
Food prices could rise by 10% following an “extreme” Brexit, according to Bank of England governor Mark Carney. Carney said that a softer Brexit would still see food prices rise by around 6% with Bank of England colleague Jon Cunliffe saying that the UK imports about half of its food…
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Oct- 2018 -12 OctoberFood and Drink
Calorie cap introduced for some restaurant dishes
Public Health England is set to announce calorie caps for certain restaurant dishes, the cap would see the limit for pies set at 695 calories and pizzas at 928 calories. Under the new measures Pizza Express would breach the regulations on all but four of it classic pizzas. With the…
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