UKHospitality sets out plan for 2024 election year

Trade body UKHospitality has set out its priorities for 2024 as the country prepares for a general election.

Prime minister Rishi Sunak will have to call the next election this year to ensure it takes place before 28 January 2025, five years from the day the current parliament first met.

UKHospitality chief executive Kate Nicholls said the group’s plan was to focus “with all political parties to ensure hospitality is at the front and centre of policy making”.

“Hospitality businesses will be hoping this year brings some respite from the endless price rises that have plagued the sector over the past 18 months,” said Nicholls.

“What’s becoming more apparent is that, despite falling inflation, government action is still needed to bring costs down and allow hospitality businesses to reach their potential.

“We have a clear three-point plan that will deliver both those objectives: generate investment through root and branch reform of business rates, create jobs through Apprenticeship Levy reform and drive economic growth through a lower rate of VAT.”

The government has confirmed chancellor Jeremy Hunt will set out his tax and spending plans in the Spring Budget on 6 March 2024.

Shadow business secretary Jonathan Reynolds told the UKHospitality conference last year that a planned review of business taxes under a Labour government would include hospitality.

Nicholls added: “Hospitality is clearly one of the most strategically important sectors in the economy – contributing £93b to the economy, employing 3.5 million people and generating £54b in tax revenues for the Treasury.

“With the potential our sector has for growth, it’s essential we receive the support and investment needed to achieve our goals.”