Hospitality leaders have backed UKHospitality’s call for a lower level of business rates for the sector in a letter to the Chancellor, Rachel Reeves.
Signatories include the CEOs of Britain’s most biggest pub groups, including Fuller’s, Greene King, JD Wetherspoon, Stonegate Group, and Young’s. Also on board are bosses of high street staples like Burger King, Caffe Nero, KFC, and Pizza Pilgrims.
The sector has united behind the need for action to avert business rates bills quadrupling in April, if current relief ends as planned on 31st March. Inaction would cost the sector £914m in additional rates bills.
The group are warning that, without action, investment will be curtailed, employment opportunities squandered, and, ultimately, there will be higher levels of business failure.
“This Budget is the last chance to prevent bills quadrupling for high streets across the country,” the letter reads. “We are asking you to grasp this opportunity to deliver your manifesto commitment to fix business rates, and protect businesses.
“We propose that your government introduces a new lower, permanent, and universal multiplier for the hospitality sector, to be adopted across all nations of the UK.
“All hospitality businesses should benefit from that multiplier, removing the cap that has acted as a disincentive to growth as employers decide that opening a second premises is simply not worth the cost.”
The full text of the letter can be read here.
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