CEOs call on Chancellor to support hospitality sector
The letter, co-ordinated by trade body UKHospitality, highlights two key areas of Government support including the extension of the 5% rate of VAT for another year and the continuation of the business rates holiday for the whole 2021/22 to give businesses breathing room.
Kate Nicholls, chief executive of UKHospitality, said: “Despite the carnage of the past twelve months, hospitality businesses are ready to pick up the pieces of a battered economy and help spearhead our economic revival. Although the end of the health crisis is not quite here, there are positive signs that we are making real progress in the battle against Covid.
“We are hopeful that, in the coming weeks and months, we can begin to welcome customers back and we know that people will be eager to socialise with their friends and families safely in our venues.
“That means we need to start laying the groundwork now. We need to make sure that the hospitality sector is in the best possible position to help rebuild as we done in the past. After the 2008 financial crisis, one in six new jobs created in the UK were in hospitality.
“If the Government backs our sector and gives us the support we need and deserve, we can play a key role in helping it achieve its aims of levelling-up people and communities across the country.”
Click on the document below to read the full letter.