Growth plan must include foundation economy, UKH says
While the trade body agreed that big infrastructure projects are much-needed, it also pointed out that their benefits won’t be realised ‘for years or decades to come’
UKHospitality has urged the chancellor to bring forward a specific growth plan for hospitality, and other sectors in the foundation economy, that can deliver growth “swiftly”.
While the trade body agreed that big infrastructure projects are much-needed, it also pointed out that their benefits won’t be realised “for years or decades to come”.
The hospitality-specific growth plan should start with reassessing the changes to employer National Insurance contributions, UKH leader Kate Nicholls said, calling it “the single biggest blocker to growth and investment”.
Kate Nicholls, chief executive of UKH, said: “Driving economic growth is rightly the government’s top priority, but we need to see a plan for growth that reaches the whole economy. Hospitality and the foundation economy can deliver growth now, if it is properly backed.
“Hospitality was the biggest driver of economic growth in November, demonstrating that we are already on the strongest growth path, despite the intense cost pressures our businesses face.”
She added: “We need a clear growth plan for the foundation economy, which can deliver change everywhere and for everyone, as one of the largest employers in the country. Backing hospitality is an investment in vibrant towns, cities and communities – an essential component of creating investment hotspots.”
