UK debt has reached 100% of GDP, its highest level since 1961, according to new figures from the Office for National Statistics (ONS). Meanwhile, against this national backdrop, new research suggests that the hospitality sector is one of the industries facing significant debt concerns in the current climate.
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The Wine & Spirit Trade Association (WSTA) is calling on independent retailers to participate in a brief survey regarding the scheduled end of the temporary wine duty easement next February. This measure, introduced in August 2023 as part of the government's alcohol duty review, allows wines with an alcohol content between 11.5% and 14.5% abv to be taxed at a standardised rate of 12.5% abv. Once the easement ends, wines will be taxed based on their actual alcoholic strength.
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Prime Minister Rishi Sunak’s announcement of a surprise general election on July 4 has stirred significant reactions within the UK drinks trade.
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Alcohol-related deaths in the UK hit a record high in 2022, with nearly 2,500 more fatalities compared to 2019, according to official figures from the Office for National Statistics (ONS).
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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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Confidence is rising slightly among hospitality owners, new data suggest, despite inflation slowing at a ‘glacial’ pace and economic pressures in the offing, which could potentially leave the sector with a ‘billion-pound bill’.
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The rate of overall UK inflation experienced a sharp fall to 6.8% in July – the same month which marked the fourth consecutive reduction in vacancies for hospitality. However, the sector is still facing numerous challenges.
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The UK hospitality trade rode a wave of World Cup fever in November, when sales were above a still somewhat Covid-dampened environment at the end of 2021. However, with inflation biting hard and more disruption on the way over Christmas 2023, operators could be set for a challenging end-of-year run.
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As inflation takes hold of consumers and businesses alike, the hospitality industry remains in a deadlock, with businesses planning for more challenging times ahead.
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Unemployment levels are at a record low, while the total number of job vacancies in May-June 2022 was 1.3million, this is according to figures released today by the Office for National Statistics (ONS).
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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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Staff shortages in the hospitality industry are reaching critical levels and causing nearly half (45%) of operators to cut trading hours or capacity in order to cope, a new survey has said.
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New figures have shown how the hospitality sector’s staffing crisis is worsening under growing stagnancy in the job market, as the gap between new job creation and people willing to enter the workforce is widening.
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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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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.
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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The UK's hospitality industry is facing an escalating staffing crisis, with a 69% increase in job listings, according to a recent report.
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Following the UK government's unveiling of its strategy for managing Covid-19 during the autumn and winter months, UK Hospitality (UKH) chief executive Kate Nicholls has issued a stark warning about the importance of allowing businesses to remain open.
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The UK’s hospitality industry must embrace more flexible working patterns if it intends to survive, a leading commentator has claimed.
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The new edition of Harpers, out today, will reach readers hot on the heels of a parliamentary debate on the need for the creation of a minister for hospitality role in UK government. Resulting from the success of the Seat at the Table petition launched by hotelier Robin Hutson, of The Pig group and (formerly) Hotel du Vin fame, the proposal gained “an overwhelmingly positive response from all corners”, as reported by Harpers.
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