Sector can create 500k new jobs with right investment

UKHospitality (UKH) estimated with the right support, hospitality can provide 500,000 new jobs, according to economic analysis from the association and Ignite Economics.

The organisation’s policy recommendations for the incoming Government include a permanently reduced rate for business rates, reform to the apprenticeship levy and planning alongside reviewing and reforming VAT to bring it in line with European rivals.

Economic growth

This comes as a number of the political parties have launched their manifestos ahead of the general election in three weeks (Thursday 4 July).

Labour stated it would replace business rates and reform the apprenticeship levy while the Conservative party said it would ease the burden of business rates on the sector and undertake a review of the night-time economy.

At UKH’s annual summer conference, chief executive Nicholls is set to say: “Hospitality is a huge economic engine with a turnover of £140bn and £54bn 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.”

Back hospitality

She will add: “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.”