21/03/2023 09:50:00
A Conservative MP has called on the chancellor to "do the maths" and reduce VAT on hospitality businesses to 10% after the Spring Budget failed to address the issue. Tobias Ellwood, MP for Bournemouth East, intervened in the House of Commons following the chancellor's announcement last week, advises The Caterer. Ellwood said: "What I did not see in the red book were any plans to reduce VAT for the hospitality industry from 20% to 10%. As hospitality recovers [from the pandemic] today it's hit by the perfect storm of inflation, driving up wages, higher food prices and of course increased utility costs."
JD Wetherspoon (JDW) has backed out of a £3m development in New Brighton, Merseyside, leaving land up for sale. The Master Mariner, Wirral, which opened in 2013, was gearing up to a major revamp, which included expanding the adjoining Lacy's Bar. The seaside venue closed in March 2022 for the refurbishment. Morning Advertiser reports that works were set to finish in August but the pub chain announced its door had to remain shut while works continued, with no date given for when guest could return.
The extension of the government's Draught Relief initiative was the main takeaway for pubs and bars at the spring budget, with many other hospitality concerns, including energy contracts and business rates, left unmentioned. Chancellor Jeremy Hunt extended the Draught Relief from 5% to 9.2%, meaning the duty on an average draught pint of beer served in a pub or bar does not increase from August and will be up to 11p lower than the duty in supermarkets. The disparity between the two sectors in VAT paid on food was not addressed, reports Pub & Bar.
The pubs code adjudicator (PCA) has issued statutory guidance for pub companies regarding market-rent-only (MRO) options and upfront front costs to "remove barriers for tenants". After looking into arbitration disputes and listened to tenants concerns, the PCA has announced statutory guidance to "remove barriers for tenants and ensure a fair and consistent approach" towards MRO. The guidance is due to come into effect from 1 May 2023, according the Government website, advises Morning Advertiser.
The Migration Advisory Committee (MAC) has not recommended the addition of any hospitality roles to the shortage occupation list, which would make it easier for businesses to recruit from abroad, reports The Caterer. The independent advisory said it did not recommend the addition of roles including hotel and accommodation managers and proprietors, restaurant and catering managers and proprietors, chefs, catering or bar managers to the list in an interim report. In the report, the MAC said it had not received "substantial evidence which proves that shortage cannot be filled with domestic recruitment".
The LDN Collective and engineering consultants Dar Group have unveiled a plan to transform Royal Docks in east London into a waterfront destination for sports, leisure and entertainment, advises Property Week.