Vital Budget date confirmed for November

Pubs and bars have just under two months of trepidation ahead, as the government has confirmed that the Autumn Budget will take place on 26 November.

In what is perhaps one of the most pressing Budgets in decades for the on-trade, thousands of operators across the UK will be hoping for some support, relief and crucial amends to key areas that have hindered the industry since the chancellor's Budget last year.

"With almost 89,000 hospitality jobs lost since last October and the additional £3.4bn in additional annual cost inflicted on our businesses, we need to see measures to undo that damage," says Kate Nicholls, chair of UKHospitality. "That means action to lower business rates, fix National Insurance Contributions and cut VAT. 

"We urge as many businesses to use our #TaxedOut hub to contact their local MP to reiterate the need for positive action."

A defining moment

Michael Kill, CEO of the Night Time Industries Association (NTIA), says the eyes of the country and the industry will be firmly fixed on the government’s response to one of the most critical economic moments in recent memory.

"This Budget is not only a test of fiscal credibility, it is a defining moment for the future of this government and its ability to protect jobs, businesses and communities across the UK," he says

"The night-time economy, which contributes over £153bn to the UK economy and supports over 2m jobs, continues to face unprecedented challenges. Without urgent intervention, we risk the irreversible decline of a sector that is central to the nation’s cultural identity, economic growth and social fabric."

The NTIA is fore calling on the government to act decisively with three clear measures:

1.⁠ ⁠Cut VAT for hospitality and night-time economy 
2.⁠ ⁠Reinstate National Insurance thresholds for employers 
3.⁠ ⁠Deliver transactional reform of business rates 

"This Budget cannot be business as usual," says Kill. "The decisions taken on 26 November will define the survival of thousands of businesses and the futures of the people they employ. The government must listen, and act, before it is too late."

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