UKHospitality responds to the 2023 Autumn Statement
The Autumn Statement was revealed this month, and there are key parts that relate to the hospitality industry, including business rates, alcohol duties and National Living Wage. Kate Nicholls, CEO of UKHospitality responds to the Statement: “The Chancellor has brought forward a significant package of business rates measures that will help hospitality business across the country. We’re pleased that the Chancellor has also frozen alcohol duty until August next year.” Read the full response below.
Confidence in hospitality sector climbs again
The October edition of the Business Confidence Survey from CGA by NIQ and Fourth shows that 49% of leaders now feel confident about the hospitality industry over the next 12 months. Only 5% of leaders say their business is at risk of failure, down from 11% in the last quarter. Karl Chessell, CGA by NIQ’s director, says: “These figures are another vote of confidence in hospitality.”
Industry reacts to rise in National Living Wage
The Autumn Statement revealed a rise in National Living Wage from £10.42 to £11.44, coming into effect on 1 April 2024. This has left many hospitality bosses warning that a rise could shut down quite a few venues and businesses. Andrew Reilly, chairman of Lounders said: “This is great news for workers, but it will be the death knell for many small hospitality businesses.”
UKHospitality warns Christmas rail strikes could cost hospitality £800 million
Train union ASLEF has announced another wave of train strikes that will hit hospitality during the critical festive period. UKHospitality CEO Kate Nicholls says: “I would urge all parties to get back round the table and work to reach a solution that avoids these devastating strikes.” This comes on the heels of an agreement the RMT has made to avoid strikes over Christmas.