Warning that £864m hospitality bill will be "final nail in coffin"
Monday, October 23, 2023
Hospitality industry could face a 'staggering' bill of £864million next April, UKHospitality has warned.
"Clobbering high streets, retail parks, office blocks and logistics firms with these sky-high rises will create a significant blow to the economic recovery that everyone wants to see." - Simon Green.
Figures from the Office for National Statistics (ONS) showed the consumer price index (CPI) was a paltry 6.7% in September, above the 6.6% expected by most economists.
Helen Dickinson, chief executive of the British Retail Consortium, which represents most of Britain's big chain retailers, said the rise would "inevitably put renewed pressure on consumer prices" and urged the
Government to take steps to reduce the annual rise.
"Retailers are publicly calling on the chancellor to freeze the business rates multiplier, allowing them to keep driving down prices, and invest in new shops and jobs." - Helen Dickinson
Industry chiefs in Britain's shops and leisure industries have urged the government to freeze business rates after new research revealed firms are struggling to raise an additional £1.7billion next year as interest
rates rise in line with the latest inflation figures.
Industry group UKHospitality said hotels would see a surge of over £234 million and could see another £630 million taken on in fees and charges as a result of the possible end of an existing programme of aid for the sector.
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