Up to 310,000 jobs across the hospitality and tourism sector are at risk without an extension of the reduced 5% VAT rate, a new survey has revealed.
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Chancellor Rishi Sunak has announced that the government’s Job Retention Scheme, better known as the furlough scheme, will be extended until the end of March 2021, with government once again paying 80% of wages up to £2,500 to see businesses through a second wave of Covid-19 infections.
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Trade bodies across the industry have welcomed the Chancellor’s latest support package for businesses announced yesterday afternoon.
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UK Hospitality (UKH) has welcomed the new support for closed hospitality businesses but said that support for others must go further, repeating its call for a much more comprehensive package of support for the whole sector to cover rent and other overheads.
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Trade bodies have urged the government to provide more sector targeted support following Chancellor Sunak Rishi announcement of the Winter Economy Plan earlier today.
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Chancellor Rishi Sunak has confirmed the details of the government’s Winter Economy Plan, including a new Job Support Scheme that will replace furlough when it closes on 31 October, and an extension of the VAT break for hospitality until 31 March 2021.
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Ed Miliband MP has shown his support for a targeted extension of the JRS in an interview this morning on BBC 4 Radio’s Today show.
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There will be no “cliff-edge” for businesses to face when the Covid-19 Job Retention Scheme (JRS) is brought to end, Chancellor Rishi Sunak has said.
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The Distillers’ Charity has pledged £50,000 to The Drinks Trust’s Covid-19 Emergency Fund.
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Chancellor Rishi Sunak has confirmed that the government will cover the wages of self-employed workers up to £2,500 a month – matching what was offered to staff employees last week.
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The WSTA, which has relentlessly called on the Chancellor to suspend duty payments, last night said it assumed the payments would be due today (25 March) with no formal response from the Treasury to suggest otherwise.
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Information for businesses on how to access the Chancellor's various support packages can be found at www.gov.uk
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An initial 32 drinks companies (all WSTA members) have joined forces to plea for a cash lifeline, calling collectively on the Chancellor to suspend duty.
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As the extraordinary complexity of the current situation fully sinks in, Andrew Catchpole discovers how those supplying the on-trade have reacted to the Chancellor’s support measures for businesses.
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Duty on wines, spirits and beers is to be frozen, new Chancellor Rishi Sunak announced in today’s budget, allaying trade fears of another rise in line with inflation.
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Several UK wine and spirit SMEs have united to urge the new Chancellor, Rishi Sunak MP, to cut wine and spirit duty by 2% to help boost British business.
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Pub landlords and spirits importers will be breathing a sigh of relief this morning, but not the nation’s wine trade – which is looking at an extra £90 million bill in duty next year.
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Investing in Britain’s future was one of the anthems that ran through Philip Hammond’s autumn Budget speech this afternoon.
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Duty on wines, spirits and beers is to be frozen, Chancellor Philip Hammond announced in today’s budget, allaying trade fears of another rise in line with inflation.
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Philip Hammond is being labelled a “scrooge” after it was revealed he will be one of the worst Chancellors to tax the wine and spirit sector if he pursues the planned increase in the Budget tomorrow (Wednesday, 22 November).
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