0:00
The business group UK hospitality has
0:02
found that as many as 574 hotels could
0:06
be forced to close their doors in 2026
0:08
alone based on the current pressures on
0:11
the sector. The average hotel will see
0:13
their business rate sore by 28,900
0:17
next year and by a massive £25,200
0:21
in the next 3 years. The group wants to
0:23
see the business rates discount up from
0:25
5 p to 20 for all hospitality
0:28
businesses. This week, the chancellor
0:30
finally unveiled a hospitality bailout.
0:32
It looks like it'll be worth as much as
0:34
300 million pounds, but it will only be
0:36
for pubs, and it will only be temporary.
0:38
So, the pressure is growing on the
0:40
government to broaden this out to the
0:42
rest of hospitality. It even made the
0:44
front page of our paper this week.
0:46
Exclusive polling commissioned by city
0:49
and freshwater strategy has found that
0:51
70% of Brits would back a fullyfledged
0:54
relief package for the industry.
0:56
Meanwhile, Rachel Reeves says that the
0:58
current rate of discounts means that
1:00
hospitality and retail are facing the
1:03
lowest rates of taxes since 1991.
