New data published by the Office for National Statistics (ONS) has revealed that average weekly earnings in the food and accommodation sector continue to spiral, exacerbating the financial woes of hospitality businesses nationwide.
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Leading members of the UK's hospitality sector have written to the Chancellor, warning of “business closures, job losses and cancelled investment” unless immediate action is taken.
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Confidence among Britain’s hospitality leaders has plunged as sector challenges deepen, with CGA by NIQ’s latest Business Confidence Survey revealing worsening sentiment amid squeezed margins and reduced consumer spending.
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An outcry has erupted from the trade following yesterday’s Autumn Budget, which led to disappointment on many fronts, including a measly 1p off draught beer, further rises to duty for wine and a lowered rate of business rates relief which has been described a kick in the teeth to businesses.
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Industrial action across the rail network from Friday 5 April to Monday 8 April is estimated to cost the hospitality sector £387m, according to UKhospitality.
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The government has announced a Job Retention Bonus to support furloughed employees and businesses back into work.
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