The future of the hospitality industry will be in the spotlight next month when politicians and the movers and shakers in the industry come together for a key conference.
The move by the Government to make pavement licences permanent presents an opportunity for the hard-pressed hospitality industry.
The hard-pressed hospitality industry is facing some difficult choices after the temporary cut in VAT to 12.5 per cent reverted to the full 20 per cent. It will result in double-digit price increases for consumers as operators struggle to survive, leading industry body UKHospitality says.
Hopes that the temporary VAT cut for hospitality would be extended were dashed in Chancellor Rishi Sunak’s Spring Statement this week.
The British public is overwhelmingly in support of the temporary 12.5 per cent rate of VAT for hospitality being retained.
Hospitality business owners have responded positively to the staff shortages caused by the pandemic, by increasing wages and implementing improved staff retention strategies.
Business rates will be cut by 50 per cent in 2022/23 for firms in the hospitality, retail and leisure sectors, Budget 2021 documents have revealed.
Setting the VAT rate permanently at 12.5 per cent will create more than 100,000 jobs and boost investment in the UK, according to a new campaign.
The Night Time Industries Association (NTIA) has recently revealed that due to the pandemic, 393,000 jobs have ended across the night-time economy. Read More
Due to the ongoing staff shortages caused by the pandemic, UK restaurants have had to increase employee wages to entice chefs and waiters – which could mean higher prices for customers. Read More