UKHospitality calls for tax cuts to revive sector in upcoming budget

UKHospitality Chair Kate Nicholls has urged the Chancellor to use the upcoming Budget to ease pressure on hospitality businesses, warning that rising costs and heavy taxation are stifling growth on the high street.

Kate Nicholls, Chair of UKHospitality, said: “It’s clear that the UK has a consistent growth problem and, alongside waning consumer confidence, it is hitting high streets hard.

“Hospitality is being taxed out, with rising costs continuing to hit every part of a business. The £3.4 billion in additional annual cost inflicted on our sector in April made investing in and growing a business almost impossible. Instead, it has led to job losses, cancelled investment, price increases and business failure.

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“You cannot tax your way to growth on the backs of the high street, which is why the Budget needs to be focused on reducing costs for businesses. Cutting hospitality’s tax burden – the highest in the country – would enable our sector to grow, create jobs and help people back into work.

“We need to see urgent action at the Budget. The Chancellor needs to lower business rates, fix NICs and cut VAT to unleash hospitality’s potential.”