Hospitality Businesses Lose Cash Reserves After Reeves Tax Raid – Guido Fawkes

Hospitality Businesses Lose Cash Reserves After Reeves Tax Raid

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New data shows hospitality businesses are struggling to keep up with Reeves’ tax hikes and are seeing their savings ground down. Better hope there isn’t another global economic shock…

Polling conducted of members of UK Hospitality, the British Institute of Innkeeping (BII), the British Beer & Pub Association (BBPA) and Hospitality Ulster shows that one in five have zero cash reserves remaining. Hospitality businesses’ savings have long been damaged by successive tax policy. Eight in ten have raised prices after the last budget’s tax hikes kicked in…

69% of polled hospitality firms also have fewer than six months of reserves remaining. The NI hike alone has cost the sector an extra £3 billion and cost 84,000 jobs according to research. First they came for the pubs…