The six-month energy cap unveiled by the Prime Minister yesterday has been met with a smattering of optimism among businesses. Though predictably, the resounding consensus from many corners of the trade is that the measure does not nearly go far enough in limiting the impact of exorbitant energy costs.
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Mounting pressure is being placed on the government to ease the ‘financial fragility’ of the hospitality sector during its upcoming review of business rates, as businesses continue to suffer rising supply chain costs and runaway inflation.
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New research from CGA Strategy has uncovered a stark division between hospitality businesses in London and regional cities across the UK, with the latter thriving in the context of a difficult trading period, while London continues to struggle.
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Costs resulting from ongoing supply chain issues are likely to be passed onto the customer this autumn, CGA has predicted, with three-quarters of hospitality businesses admitting that they are likely to raise prices as a result.
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Pandemic restrictions may have been lifted, but for hospitality businesses desperate to welcome punters back, a new challenge is thwarting their ambitions. Lisa Riley reports
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Hospitality businesses can now open in Wales and Scotland for the first time since December, with Scotland’s ‘indoors but without alcohol’ policy putting it ahead of England’s outdoor-only phase of its current roadmap.
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The plan for a tentative reopening of Scotland’s economy including shops, bars and restaurants has been met with criticism by hospitality businesses who say an end of April start date will be too late for many.
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UK Hospitality has branded London’s, and parts of Essex and Hertfordshire, move to Tier 3 as illogical, warning that businesses will be pushed towards failure and more jobs put at risk as a result.
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The drinks trade has reacted angrily to the Welsh government’s new restrictions on pubs and restaurants, announced yesterday.
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The UK drinks trade has welcomed the extension of the government’s furlough scheme for UK workers during the corovirus crisis – but with concerns for the future.
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