UKHospitality: 'Business rates holiday and VAT cut extension essential for hospitality revival'
Trade body UKHospitality has called for a 'bold package' of support to enable businesses in the sector to spearhead country’s economic revival in 2021.
Ahead of this year’s Budget statement in March, UKHospitality has written to Chancellor Rishi Sunak outlining the additional action needed to accelerate the revival of the UK’s hospitality sector, slash unemployment and bring the whole nation together.
In order to ensure the early, rapid return to growth of as many hospitality businesses as possible, it says the Government must extend the VAT cut to 5% for a further 12 months, and ensure it applies across the broad hospitality sector, to stimulate economic activity; and enact a further business rates holiday for hospitality for 2021/22 to protect communities and repair businesses.