UKHospitality, the new trade body representing the UK’s hospitality sector, warns that unless the Government unveils a comprehensive package of support for hospitality businesses at the Budget Statement, the rate of closures will only increase.
According to the latest CGA Market Growth Monitor published today, Britain now has over 3,000 fewer licensed restaurants, pubs and bars than it did 12 months ago – a fall of 2.5%, representing an average net closure of eight premises per day.
UKHospitality Chief Executive Kate Nicholls said, “The perfect storm of cost pressures presented by ever-increasing business rates and wage costs continues to batter the hospitality sector. Despite promises from the Government to reform business rates, pubs, restaurants and bars are still forced to operate within an unfair system that favours digital businesses above those at the heart of communities.
“With Brexit a little over six months away, it is crucial that the Government provides the sector with the support it needs and that has been repeatedly promised. UKHospitality will be hammering home the message ahead of the Budget that, unless support is provided, the rate of closures will only increase.”
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