Sector can't wait for 'misguided promises'
This comes as Prime Minister Rishi Sunak yesterday (Wednesday 4 January) announced a five-point plan to build a “better future” and “restore, optimism, hope and pride in Britain”.
Sunak addressed a myriad of issues currently plaguing the nation, including national debt, inflation and the cost-of-living crisis. He pledged to halve inflation this year, grow the economy and reduce national debt.
Continual uncertainty
Though NTIA CEO Michael Kill claimed the Prime Minister’s promises would not “stall” contractions within the hospitality sector.
He said: “Night-time economy and hospitality businesses have suffered immeasurably through rail strikes, untenable operating costs and more than three years of continual uncertainty.
“We cannot continue to wait for the Government and Prime Minister to deliver empty words and misguided promises of future prosperity when it’s clear that so many people are suffering today.
“Businesses and jobs are being lost. The long-term strategic rhetoric from the Prime Minister yesterday will not stall the immediate contraction of the hospitality sector and furthermore will not stem the loss in tax contributions to the Treasury.”
Defined strategy
This follows reports yesterday the Government has allegedly planned to halve energy support for businesses when the existing scheme expires in March in a bid to, according to the Treasury, ensure “longer-term affordability and value for money for the taxpayer”.
Details of the revised scheme are due to be released next week though night-time economy adviser for Greater Manchester Sacha Lord, urged the Government to “listen to the swathes of business voices” calling for help.
He said: "We need a clear, urgent and defined strategy outlining how business owners across the UK can survive the expected surge in costs.
“The UK’s industry sectors are intertwined, and after the jolts of the past three years and the resolve all industries have shown in their bid for recovery, it would be a failure of this new Government to simply stand by and let business fall at the last hurdle.”
