In an open letter to the Chancellor, Kate Nicholls, CEO of UKHospitality, has garnered support from leaders of Britain’s top pub groups, restaurant chains, and prominent hoteliers. The hospitality sector is rallying together to prevent a rise in business rates that could see bills quadruple in April if current relief measures expire on March 31. Such inaction would result in an estimated £914 million in additional rates bills for the sector.
The leaders warn that failure to act will hinder investments, waste employment opportunities, and ultimately lead to an increase in business closures. The letter emphasizes, “This Budget is the last chance to prevent bills quadrupling for high streets across the country. We are urging you to fulfill your promise to reform business rates and safeguard businesses.”
They propose a new, lower, permanent, and universal multiplier for the hospitality industry, applicable across the UK. This measure would allow all hospitality firms to benefit, lifting the cap that has discouraged expansion and investment.
Kate Nicholls expressed, “The strong backing from 170 business leaders highlights the critical need to address business rates in the upcoming Budget. Inaction will not only lead to quadrupled bills but also drive more venues to shut down, depriving our communities of vital hubs.”
The open letter features a comprehensive list of signatories from various leading figures in the hospitality sector.
