Statement following the Spring Budget & increase in Energy Costs from Today the NTIA says that the Chancellor needs to go back to the drawing board with the budget, as he did in 2020 at the start of the pandemic.
Michael Kill CEO NTIA Says
“The Spring budget really epitomises the very clear disengagement and lack of grass roots understanding of our industry by the Government”
“Following two years of lockdowns and restrictions, and now the uncertainty of crisis overseas and the exceptional levels of cost inflation being experienced by operators, surely this Government cannot think this Spring statement will help anybody, consumer or businesses alike.”
“The industry has lost over a third of nightclubs across the UK in the last 2 years, and with the withdrawal of financial reliefs including VAT, and growing concern over cost inflation, as new contracts are being signed, we are set for many more businesses to be lost with jobs to follow over the next 12 months.”
“Once again our industry is facing a very bleak period, the feedback from members and wider industry is that this is not sustainable, and will lead to unprecedented price increases, in an environment where customers have less disposable income.”
“I would urge the Chancellor to revisit the spring budget, as autumn will be too late for many.”