Hospitality sector lobbies government ahead of Autumn Budget

By James Lawrence

Published: 21 October, 2024

Hospitality leaders have sent an open letter to the Chancellor, imploring Rachel Reeves to “fix business rates and prevent bills quadrupling for high streets across the country”.

Drafted by 170 CEOs, the group represents a diverse cross section of hospitality employers in the UK, including Fuller’s, Greene King, JD Wetherspoons, Stonegate Group and Burger King.

According to UKHospitality (UKH): “The sector has united behind the need for action to avert business rates bills quadrupling in April, if current relief ends as planned on 31 March. Inaction would cost the sector £914m in additional rates bills.”

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In the letter, stakeholders have implored the government to “introduce a new lower, permanent and universal multiplier for the hospitality sector, to be adopted across all nations of the UK.

“All hospitality businesses should benefit from that multiplier, removing the cap that has acted as a disincentive to growth as employers decide that opening a second premises is simply not worth the cost”.

Kate Nicholls, Chief Executive of UKH, said: “This 170-strong cohort of business leaders across hospitality shows just how important addressing business rates is at the Budget. Inaction will lead to bills quadrupling and more venues shutting their doors for good, which will rob our towns and cities of vital community hubs.

“If we don’t want to lose out on vital investment, job creation and regeneration of our high streets, then the Chancellor needs to act to introduce a lower level of business rates for hospitality at the Budget.”

The Autumn Budget 2024 – the first from the new Labour government – will be delivered on Wednesday 30 October. It is expected to contain significant tax changes and potentially have a long-lasting impact on businesses in the UK.

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