Hospitality can deliver for Britain by growing 6% a year and creating 500,000 new jobs with the right investment, according to economic analysis from UKHospitality and Ignite Economics.
At its annual summer conference, UKHospitality will call on all political parties to give their backing to a sector that can grow at a significantly faster rate than the wider economy, while also providing new jobs and regenerating communities.
UKHospitality’s policy recommendations for an incoming government include:
- Fixing business rates with a permanently reduced rate for hospitality and tourism
- Reforming the Apprenticeship Levy
- Planning reform to allow more hospitality-led regeneration of towns and cities
- Reviewing and reforming VAT to bring it in line with European rivals.
The call comes during a week of party manifestos being launched, where UKHospitality has already secured commitments for the sector. The Labour Party has committed to replacing business rates and reforming the Apprenticeship Levy. The Conservative Party has committed to easing the burden of business rates on the sector and undertaking a review of the nighttime economy.
In her opening speech to the conference, Kate Nicholls, Chief Executive of UKHospitality, will say:
“Hospitality is a huge economic engine, with a turnover of £140 billion and £54 billion in taxes, funding vital public services.
“Make no mistake, we are working as hard as anyone to create the economic growth this country desperately needs.
“But our impact goes far beyond that. We make memories, and we make places. Places where people want to live, work and invest. Hospitality can be the difference between a thriving community and a failing one.
“The future can be even brighter. With the right investment and support, hospitality can grow by 6% each year. That’s six times higher than the wider economy. It would mean another half a million jobs. Jobs for everyone, everywhere.
“Our message to all political parties was and is simple. Back us. Back hospitality.
“Back us to regenerate our towns and cities. Back us to invest in our people and create more jobs. Back us to serve Britain.”
