Overview
- Chancellor Rachel Reeves kept VAT unchanged and made no National Insurance changes, while confirming the National Living Wage will lift to £12.71 for over-21s from April.
- Hospitality groups say the limited business rates relief will be eroded by next year’s inflation-linked revaluation, offering little net support.
- ONS figures show the sector is on track to shed about 111,000 jobs by the end of November, with pub insolvencies at the highest level in more than two decades.
- Industry voices warn of more closures and job losses, citing survey fears that three in ten pub landlords could go bust if costs rise further.
- The Budget advances a bill allowing mayors to impose a “modest” tourist charge, a move UKHospitality brands a U-turn that could add up to £518m to visitors’ bills, as Liverpool leaders predict weaker footfall and a tough trading outlook.