Can the new Government deliver for the Hospitality industry?
Last year, UK Hospitality’s report revealed a promising forecast for the hospitality sector. With the right economic and policy environment, this industry could boost its direct contribution to the economy by £29 billion and create half a million new jobs by 2027.
Despite the challenges posed by the cost of living crisis and the pandemic, hospitality plays an indispensable role in our economy.
With a new Labour Government now at the helm, there is a collaborative call from the hospitality industry urging the party to deliver on its manifesto pledges. These include replacing the outdated business rate system and reforming the apprenticeship levy. CIC, having worked in the hospitality industry for over 25 years, stands united with the sector to address these pressing issues. We call on the Government to act on their promises and help deliver a brighter future for hospitality businesses.
Recognising the Sector’s Role
During their campaign, Labour acknowledged the hospitality sector’s vital role in serving Britain and creating vibrant communities. This industry is not just about food and drink; it’s about creating places where people want to live, work, and invest. However, the sector has been hit hard by high business rates, paying three times its fair share as a proportion of its turnover. Lowering these burdens can easily be accomplished within the first 100 days of the new government through the introduction of a permanently lower rate for hospitality and other high street businesses.
A Crucial Employer
Hospitality is the third-largest employer in the UK, with 3.5 million people working in the sector. It provides jobs and supports livelihoods across the country. Labour’s manifesto pledge to reform the apprenticeship levy would be transformational for the sector’s investment in skills, helping to attract more people into the rewarding roles on offer.
CIC’s Commitment to Hospitality
At a time when hospitality businesses have been suffering from challenges brought on by the cost of living crisis and the pandemic, CIC’s experience and supply chain knowledge enable us to support businesses and maximise their refurbishment investments. We work closely with pubs, restaurants, and hotels to refurbish and renovate their premises, ensuring they are in peak condition to welcome guests and create new revenue streams. Many of our long-standing clients have become friends of the company and we stand by them and join calls to ensure the new Labour Government delivers on its manifesto, which will support so many hospitality businesses.
The hospitality sector’s resilience and adaptability have been nothing short of remarkable, but so many businesses have fallen under the pressure of the last few years, so the support of the Government is crucial to harness its full potential. By lowering business rates and reforming the apprenticeship levy, the new administration can provide the relief and support needed to foster growth and innovation within the sector.
CIC remains committed to standing with our partners in the hospitality industry, advocating for the changes that will secure a prosperous future. It’s time for the Government to fulfil its promises and help deliver a brighter future for the hospitality sector. Together, we can create an environment where hospitality businesses thrive, contributing significantly to the economy and enriching the communities they serve.
