Following the Prime Minister’s statement on her government’s economic plan, UKHospitality Chief Executive has made comment.
Kate Nicholls said, “The UK’s hospitality sector has enormous potential to turbocharge the everyday economy; delivering value, creating jobs and driving economic growth.
“Prior to the energy crisis, which is proving to be so devastating, the sector was forecast to grow by 3%.
'We’re pleased that the government has stepped in to provide key relief to businesses to help weather this storm, but there is real desire from our dynamic hospitality businesses to return to those levels of growth.'
“To achieve this growth, we now need to see government take a longer-term look at what will boost businesses and inspire confidence to invest.
Finishing, Kate said, 'Addressing pre-profit taxes by reforming the business rates system, which is currently not fit for purpose and places an unfair burden on hospitality businesses, and introducing a lower rate of VAT would be two galvanising actions from the government that would enable hospitality businesses to grow and also reward the consumer.”