The idea that raising interest rates to try to curb consumer spending in pubs, bars and restaurants is another slap in the face for a sector that seems to have become the whipping boys for the authorities.
Trade bodies across the sector have hit out at the Bank of England (BoE) Governor's “ludicrous” and “impossible” suggestion that firms should “stomach” cost increases.
Tackling the main drivers of inflation and offering hospitality firms “enhanced support” would “reduce the need” for interest rate increases, UKHospitality (UKH) chief executive Kate Nicholls has stated.
Interest rate increases are not all “doom and gloom” for the hospitality sector however it is important the Chancellor takes the added “pressure” into account in the upcoming Spring Budget.
Looming recession and soaring inflation could be “final straw” for small businesses and the Government must “act decisively and swiftly”, according to trade bodies across the sector.
The Bank of England has urged anyone who still has paper £20 and £50 notes to use them or deposit them to the bank, ahead of the cash being withdrawn later this year.
Hospitality and experience will be key in the fight for the consumer spend according to Sarah Weir as she discusses the events of the week and the market challenges with the MA's Ed Bedington.
The Bank of England has predicted that the economy will not shrink as much as first thought following the coronavirus pandemic, but it will take longer to recover while job losses are likely to hit 7.5% later this year and average earnings likely to shrink....
Old paper £10 notes will cease to be legal tender after Wednesday 28 February, yet an estimated £2.1bn worth of the old notes are still thought to be in circulation.
JD Wetherspoon has printed another wave of Brexit beer mats for its pubs with a message for George Osborne as founder Tim Martin continues his bold campaign for his customers to vote leave this week.
Pubs will need to accept new plastic five and ten pound notes from customers later this year, and licensees will need to prepare for their introduction.
Leading pub and restaurant chains appear to be benefitting from UK consumers holidaying at home rather than abroad, new figures suggest. According to...
The Bank of England's Monetary Policy Committee has voted to cut its interest rate by half a percentage point to 4.5 per cent.The move comes as five...
The Bank of England has cut interest rates by 0.25% to 5% in a bid to spark growth in the economy. The move will benefit homeowners and borrowers and...
The Bank of England governor, Mervyn King, admitted yesterday that the economy might grind to a halt this year - but warned that the continuing risk...
Paul Breen Director Colliers CRE Home-owners across the country were breathing a huge sigh of relief last Wednesday when the Bank of England revealed...
The UK faces an apple shortage, such is the popularity of cider throughout the country. Some 970m pints of cider were drunk in Britain last year and...
The ObserverThe government has been accused of ignoring an impending health crisis after it emerged a long-awaited report on alcohol misuse rules out...
Busy location on coastal main road
Extensively renovated detached public house
Five trade areas (100)
Sizeable refurbished 4-5 bedroom accommodation
Newly created beer garden (125)
Established and popular business...
