UKHospitality Cymru is calling for Business Rates relief to form the centrepiece of a new year financial support package to protect thousands of hospitality jobs in Wales.
“The Welsh Government’s budget is now around a week away and it represents a crunch time for hospitality. A generous business rates relief package could help save thousands of jobs in Wales,” said David Chapman, Executive Director for UKHospitality Cymru.
“The Welsh Government’s foresight in providing 100 per cent business rates relief for the last two financial years, alongside other economic support measures, has helped keep many firms afloat and their staff in jobs.
“New relief for 2022-23 will be vital to keeping our businesses alive. It is now clear that trading in November and December – traditionally when hospitality makes profits to see it through the fallow months to follow – is falling way short of viability.
“Every Welsh hospitality business will be stretched to breaking point just to try to trade through to April, when they will face colossal cost hikes from full business rates, VAT reverting to 20 per cent, new higher National Insurance contributions and food and energy inflation,” Chapman said.