04/01/2023 10:20:00
The freeze to UK alcohol duty rates has been extended by six months to 1 August 2023, reports Pub & Bar. The government says a new six-month extension aims to reassure and provide certainty to pubs, breweries and distilleries facing tough challenges ahead. The revised end date aligns with a new simpler alcohol tax system taking effect, with the chancellor reserving the decision on future duty rates for the Spring Budget 2023, which will take place on 15 March.
Rishi Sunak is poised to halve financial support on energy for businesses amid concerns about the costs. In October last year a six-month package of support for businesses that capped wholesale energy prices on electricity and gas was announced during former prime minister Liz Truss' short tenure, which is expected to cost the Government £18bn by the time it ends on 20 March. The Times advise that next month chancellor Jeremy Hunt will announce a 12-month extension to the scheme but the level of support for businesses could be more than halved amid concerns about taxpayers' exposure to fluctuating energy prices.
West Oxfordshire District Council's Cabinet has decided to abolish and refund pavement licence fees for businesses to operate and display material on the streets, meaning bars and restaurants will be able to seat and serve customers outdoors without having to pay to do so. Pavement licences will still be required for businesses to operate outdoors, and owners will be required to fill out an application, however no payment will be required to apply for a licence, reports The Caterer. All licences issued in 2022 will be refunded and no further fees will be due for applying for pavement licences in the future.
Mactaggart Family & Partners (MF&P), the majority owner of The Resident hotel group, has refinanced with NatWest to pursue development projects and acquisitions, advises Boutique Hotel News. The five-year loan agreement saw MF&P refinance its freehold owned, operational assets in Covent Garden, Kensington, Liverpool and Soho with a £55 million debt facility. Last year, MF&P announced a sixth Resident hotel in Edinburgh which is due to open in 2024. Over the next seven years, the company is targeting between 1,500 and 2,000 room additions through management contracts.
The rail strikes have cost bars, pubs, restaurants and hotels in the UK at least £1.5bn in December alone and - coupled with the cost of living crisis - will result in a "huge swathe of businesses and jobs lost", industry bodies have warned. The Guardian report that Kate Nicholls, the chief executive of UKHospitality, said the financial impact of train strikes on the sector was worse than expected, resulting in a "perfect storm" for businesses battling soaring energy bills and inflation that meant "undoubtedly we will see more business failures" in the next three months.
Wetherspoons cuts cost of pints to as little as 99p in huge January price slash, reports Chronicle Live. The chain is cutting the cost of beers, ciders, spirits, hot beverages and soft drinks from January 3 until January 17 at 810 Wetherspoon sites across the UK.