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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UKHospitality (UKH)chief executive Kate Nicholls has written an urgent letter to the UK government, outlining the potential disaster facing thousands of businesses in light of the energy crisis.
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Hospitality businesses are facing a case of ‘out the frying pan, into the fire’ this autumn as the UK teeters on the verge of a recession and a crippling cost of living crisis, leading members of the trade have said.
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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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A £15bn package aimed at helping households deal with inflation and the rising cost of energy bills comes just one day after the Sue Gray report was published – a move that has prompted critics to question the rationale and timing of the sudden windfall for British consumers. Also, they ask, where is the support for business?
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As the latest Wine Drinkers UK communique suggests, taxing alcohol is set to cost the wine industry an estimated £300 million and push up prices for UK consumers, without bringing any significant boost to Treasury funds.
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Restaurants across the country are still suffering the devastating effects of Covid and face a tidal wave of soaring costs, including a return to 20% VAT.
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Staffing issues continue to set back hospitality’s recovery from Covid-19, according to a new survey, which has found that nearly four out of five hospitality leaders have offered higher wages to try to retain staff.
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In a sector facing soaring costs and plummeting consumer confidence, today’s increase in VAT gives operators a tough decision to make on price rises.
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Last week’s out-of-home drinks sales were 7% up on pre-pandemic levels, CGA’s latest Drinks Recovery Tracker reveals.
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Today, the government has officially returned the VAT rate for the hospitality and tourism industry to 20% (24 March).
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As the cost of living increases, consumers are looking to reduce spending, and recreational drinking could bear the brunt.
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In a campaign organised by UKHospitality, more than 250 business leaders from the service and leisure industries have written to the Chancellor Rishi Sunak, urging the government to keep VAT at 12.5% beyond March 2022.
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As the cost of living crisis and soaring energy bills continue to affect households across the UK, many in the hospitality sector are predicting double-digit price rises, inevitably to be passed on to consumers.
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New legislation is set to be implemented this year, requiring businesses with over 250 employees to display calories information for food products sold to consumers.
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Yesterday's (24 January) announcement from the government that international visitors to the UK that are vaccinated against Covid-19 will no longer be required to test on arrival from February has been welcomed by UKHospitality.
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On-trade drinks sales fell by a quarter in the run-up to Christmas as wary consumers avoided pubs, bars and restaurants ahead of socialising on the big day, as Andrew Catchpole reports.
Newly released data from UKHospitality and CGA Strategy paints a grim picture for on-trade businesses, with sales in UK pubs, restaurants and bars falling 60% on Christmas Day, 31% on Boxing Day and 27% on New Year’s Eve, when compared to 2019.
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New figures from UKHospitality show that pubs, bars and restaurants lost £10,335 on average in the week leading up to Christmas, due to fears over the new Covid-19 variant.
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Scotland and Wales are to receive additional funding from Westminster to help struggling businesses cope with new Covid restrictions, as England awaits news on further restrictive measures.
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