According to ‘Big Hospitality’, there are five key things that the UK hospitality industry would like to see in today’s autumn statement.
Boost for beer
To protect the pub sector, maintain a freeze in beer duty and consider a cut in next year’s Budget. See here for a previous blog post on the UK Pubs and Bars Sector.
Freeze wine duty
The Wine and Spirit Trade Association (WSTA) has warned of ‘dire consequences’ if there is any increase in wine duty. With 99 per cent of UK wine being imported, WSTA is already predicting an average increase of 29p per bottle due to the falling sterling. A quarter of a million people work in the UK wine industry.
Cut Tourism VAT
Momentum in the campaign to cut tourism VAT from 20 to five per cent has picked up since the Brexit vote. Trade bodies are hopeful that the Government will re-think the rate ahead of leaving the EU.
Business rates reform
The first revaluation in business rates in seven years takes place in April 2017, with London pubs set to be the hardest hit. Venues in the capital will see their bills rise by 25 per cent on average over the next five years, compared to nine per cent for the rest of the country. BHA is calling for rates to be maintained at their 2010 position, while the Association of Licensed Multiple Retailers (ALMR) wants there to be at least two years of transitional relief to off-set the hike in bills.
Reduce National Insurance
In the face of the industry’s growing skills shortage, there is a demand for Employers’ National Insurance to be reduced for under 25’s.
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