UKHospitality has revealed a three-point plan aimed at providing respite from the “endless price rises” that have plagued the sector over the past 18 months.
The trade body says in order to reach its full potential, the sector needs to generate investment through root and branch reform of business rates, create jobs through Apprenticeship Levy reform and drive economic growth through a lower rate of VAT.
Writing in a New Year message, CEO Kate Nicholls said: “With a General Election set to take place in 2024, this clear plan will be our focus with all political parties to ensure hospitality is at the front and centre of policy making.”
“Hospitality is clearly one of the most strategically important sectors in the economy – contributing £93 billion to the economy, employing 3.5 million people and generating £54 billion in tax revenues for the Treasury.
“With the potential our sector has for growth, it’s essential we receive the support and investment needed to achieve our goals.”
