Leaders in the hospitality industry have said that more than half of the UK’s job losses since the last budget have come from their sector.
Job losses in restaurants, bars, pubs and hotels total around 89,000 since last October, according to UKHospitality analysis of Office for National Statistics data.
The group said higher taxes announced by Chancellor Rachel Reeves in the Autumn Budget had disproportionately slowed down investment and hiring, adding that “urgent action” was needed to cut business rates and VAT.
Read the full article on the BBC website
NAM Implications:
- 2024 Autumn Budget fallout:
- 53% of UK job losses since the Autumn budget were in Hospitality
- 33% of businesses are cutting opening hours
- 12.5% closing sites
- 60% cutting staff numbers
- No problem?
- Meanwhile, Treasury moves of
- Cutting the cost of licencing
- Facilitating al fresco dining
- Extending business rates relief for hospitality
- Cutting alcohol duty on draught pints
- Capping corporation tax
- Simply won’t hack it, given suppressed demand…
