A summary of expectations for the 2023 Spring Budget from the hospitality sector.
One of the main requests from the hospitality industry is for continued financial support, particularly for businesses that have been hit hard by the pandemic. This includes an extension of the reduced rate of VAT for hospitality and tourism, which is currently set to end in September 2023.
Another area of concern is business rates, which many in the sector feel are too high. Hospitality businesses are calling for a reduction in rates or a revaluation of the system, which they feel unfairly penalises smaller businesses.
There is also a demand for increased investment in training and apprenticeships, to help address the skills shortage in the sector and to support the development of a more sustainable workforce.
Additionally, the industry is urging the government to address the issue of staff shortages by making it easier for workers from overseas to come to the UK. This includes a call for a more flexible and streamlined visa system for EU and non-EU workers, as well as a review of the salary threshold for skilled workers.
Finally, there is a push for greater clarity and transparency around Covid-related restrictions, particularly when it comes to the potential reintroduction of lockdown measures. Hospitality businesses want to see clear guidelines and support to help them navigate any future restrictions.
Overall, the hospitality industry is looking for support and investment from the government to help them recover from the pandemic and to build a sustainable future. The sector will be eagerly watching the Spring Budget 2023 to see if their requests are met.
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