1. £3.4bn cost hike for sector needs rethink.
- Author
-
Thatcher, Nikkie
- Subjects
CONSUMER confidence ,VALUE (Economics) ,CHIEF executive officers ,INSURANCE company personnel ,BUDGET ,INDUSTRIAL costs - Abstract
The article discusses the potential impact of a £3.4bn cost increase on the UK hospitality sector in April 2025, following a slowdown in economic growth. Chancellor Rachel Reeves announced a rise in employers' national insurance contributions and a reduction in the secondary threshold, which could lead to job cuts and reduced investment in the sector. Trade body UKHospitality has urged the government to reconsider these changes to prevent further damage to businesses and the economy. [Extracted from the article]
- Published
- 2024