Spring Budget tells hospitality ‘you are on your own’, says NTIA
The NTIA has warned that the Budget’s inaction will only worsen losses, leading to widespread job cuts and economic hardship
The Night Time Industries Association has voiced profound disappointment over the lack of substantial support for the sector in the Spring Budget, characterising the chancellor’s message as ‘you are on your own’.
In the wake of the Spring Budget announcement on 6 March, the NTIA has emphasised the dire economic challenges facing its members and warns of lasting consequences without adequate assistance.
While the government’s decision to freeze alcohol duty and increase the VAT threshold is appreciated by the association, the NTIA has stated it fell “woefully” short of addressing the comprehensive financial support required by businesses.
As a result, the NTIA has warned that the Budget’s inaction will only worsen losses, leading to widespread job cuts and economic hardship.
Michael Kill, CEO of the NTIA, said: “The economic challenges faced by our sector are catastrophic, and following the Spring Budget announcement, the lack of support will have a profound impact on this sector for years to come.
“For months, the entire sector has been providing the government with critical information outlining our precarious situation and the urgent need for supportive measures to sustain businesses through these turbulent times.”
He added: “In simple terms, it’s time for change. We have lost faith in the government. The livelihoods and businesses we represent are not political pawns but vital contributors to community wellbeing across the UK. It is imperative that the Government recognises this and takes decisive steps to support the sector.”
The NTIA has accused the government of prioritising political posturing over the wellbeing of businesses, suggesting that the budget is more about positioning for the upcoming election than addressing the sector’s needs.
