Hospitality and leisure businesses face a fourfold increase in their bills, potentially adding tens of thousands of pounds to costs per venue, if business rates relief ends on 31 March.
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The number of job vacancies in the UK’s hospitality sector has dropped below 100,000 for the first time since the pandemic, according to new data from the Office for National Statistics (ONS). There are currently 98,000 vacancies in food service and accommodation, marking a reduction on recent years. However, the number remains 5,000 higher than pre-pandemic levels of 93,000.
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UKHospitality is urging the government to take immediate action to prevent a sharp rise in business rates for thousands of hospitality businesses, warning that bills could skyrocket in April 2025 without intervention.
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The London Assembly’s Economy, Culture and Skills Committee has launched an investigation into the challenges facing the city’s night-time economy, focusing on the long-term effects of the pandemic, rising inflation and the ongoing cost-of-living crisis. The inquiry aims to assess how well London’s night-time leisure sector has recovered and to explore how existing mayoral policies support the ambition of a “24-hour city”.
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Hospitality sales experienced a sharp decline last Wednesday as violent disorder and the threat of widespread rioting led to many businesses closing their doors and a significant drop in customer turnout.
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Nearly 250,000 people attended the Edinburgh Fringe and other festivals last year, resulting in a 30% increase in average daily sales for hospitality venues in the city compared to the rest of the year.
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The hospitality industry has welcomed the Bank of England’s decision to cut interest rates to 5%, the first reduction in four years. The previous rate of 5.25%, a 16-year high, had been in place since August 2023.
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The Low Pay Commission (LPC) has been instructed to recommend a new National Living Wage to take effect from April 2025.
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The latest company insolvency statistics reveal a 20% increase in accommodation and food service insolvencies over the year to May 2024, rising from 3,133 in the 12 months to May 2023 to 3,752 in the 12 months to May 2024. However, there was a 9% decrease in month-on-month insolvencies in May 2024.
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Clinton Cawood examines the sectors of the market faring best and those suffering the most.
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The Labour government’s first King’s Speech has been welcomed by the hospitality sector for introducing measures aimed at achieving a 6% annual growth potential. Key proposals include reforms to the Apprenticeship Levy and the planning system, which were major requests from industry body UKHospitality.
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The Conservative Party has committed in its manifesto to a comprehensive review of England's nighttime economy, aiming to overhaul existing licensing laws and planning regulations.
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Hospitality can deliver for Britain by growing 6% a year and creating 500,000 new jobs with the right investment, according to economic analysis from UKHospitality and Ignite Economics.
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WSTA chief urges government action for £35bn UK wine sector. James Bayley reports.
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Ahead of the 4 July general election, Prime Minister Rishi Sunak has pledged to reduce the number of migrants each year under a new Conservative government.
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The Visitor Levy Bill, passed on Tuesday (28 June) by the Scottish Parliament, concludes a decade-long debate on whether councils should have the authority to introduce a visitor levy or tourist tax. The Bill empowers councils to consider and potentially implement such a levy, although it won't come into effect until 2026 at the earliest.
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UK inflation dropped to 2.3% in April, its lowest level in nearly three years. However, the reduction was less significant than anticipated, dampening hopes for an imminent interest rate cut.
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Efforts to align the UK's bottle deposit and return scheme (DRS) across all four nations have hit a snag, with an anticipated launch pushed back to 2027, marking a four-year extension from the original timeline.
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UK inflation slowed less than expected last month, despite the rate of price increases falling below that of the US for the first time in two years.
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The government has announced it will support British businesses to settle energy disputes.
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