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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Way back when I studied economics at university, I also studied sociology. It struck me then that the way economics is taught is deeply flawed. To call it a science, even a social science, doesn’t make any sense. Unlike scientific study of the cosmos or gravity discovering immutable laws, economics seeks to explain how and why humans do certain things.
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A landmark event pioneered in 2021 will return to the UK this year, uniting a diverse cross-section of businesses in the hospitality sector.
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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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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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The Wine and Spirit Trade Association (WSTA) has convened a meeting of MPs and Lords to hear first-hand from British businesses how the ‘punishing’ proposals for duty reform from three to 27 tax bands will negatively impact the drinks industry and consumers.
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Independent retailers in Northern Ireland have cautiously welcomed the announcement that non-domestic rates are to be frozen for the next financial year and that businesses will still receive a three-month rates holiday.
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Using the latest ONS labour market statistics published today, UKHospitality has produced data showing that current vacancies in hospitality are more than 100% higher than the corresponding pre-Covid period.
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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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First Minister Nicola Sturgeon announced yesterday (January 25) that office workers would be allowed to return to their desks from 31 January, a move that has been enthusiastically welcomed by the Scottish Licensed Trade Association.
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Already battered on-trade businesses suffered further in what should have been their busiest time of year. Clinton Cawood reports.
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Adaptability has been key for indies that have sought not just to survive, but to thrive, as Angela Mount 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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Nicola Sturgeon's announcement that the limitations and restrictions on indoor dining would continue until at least 24 January has been widely condemned by interest groups in Scotland.
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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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Businesses are split in their response to the Treasury's £1 billion support package, with enthusiasm from some quarters, while others have claimed that the amount “borders on insulting”.
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Chancellor Rishi Sunak has announced a further round of grants of up to £6,000 per hospitality premise, also committing to a top up of discretionary grant funding, as part of a £1 billion package to support the sector.
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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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As the hospitality industry continues to face a mounting crisis of cancellations and closures in the wake of Omicron and Plan B restrictions, UKHospitality chief executive Kate Nicholls has urged the government to step in and save many businesses from going under.
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