By: Denis Sheehan, Publisher, H&C News
Office for National Statistics data shows the UK economy in June was the fifth month of growth in a row, crediting the reopening of hospitality as the key driver. Data for Q2 2021 shows the economy almost 5% larger than earlier this year in Q1 January – March.
Chancellor, Rishi Sunak said of the data: “I know there are still challenges to overcome, but I feel confident in the strength of the UK economy and the resilience of the British people. With the fastest quarterly growth rate among the G7 economies, we have exceeded expectations, and I’m pleased to see the UK bouncing back.”
The Chancellor has benefited from the re-opening of hospitality as the power behind the continued reset of UK PLC and the wider economy.
For hospitality to continue at the forefront of leading a recovery in economic output the Chancellor will need to bolster hospitality’s ability to do so.
- The stepping of VAT needs to be revisited, and a permanent reduction for hospitality introduced.
- Business rates also need to be reviewed and become a priority for change, the current antiquated system is flawed and unfair.
- No business can operate even close to full capacity without a full team. The exodus of non UK nationals from the hospitality job pool has severely limited economic output since re-opening began non 12 April. Hospitality visas are essential.
In the four months since re-opening started shortages of people available to work has restricted that very re-opening process. Many that did re-open then being forced to limit to what extent.
Hospitality can remain at the forefront of driving the UK economy forward, but only if it is enabled to Chancellor.
School leavers, part of the answer to hospitality’s people and skills shortages
News from the hospitality and catering industry is also being featured extensively in our Facebook and twitter social media accounts with the opportunity to engage with others in hospitality and share your views.
Hospitality & Catering News: As the Chancellor benefits from hospitality now driving the UK economy, now is also the time to reciprocate. – 13 August 2021 – As the Chancellor benefits from hospitality now driving the UK economy, now is also the time to reciprocate.
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