Following the publication of the ‘Economic Contribution of the UK Hospitality Industry Report,’ the national organisation said that “hundreds of thousands of vital sector jobs could be lost and investment stunted” if it continues to be overtaxed without government support.
Calling for ‘urgent’ action on business taxation, chief executive Kate Nicholls added: “This is sobering news and it should serve as a huge warning sign for the Government.
“Thousands of hospitality businesses face a £113m business rates bombshell from next April. They are increasingly struggling from the effects of a disastrous rates revaluation last year and an archaic tax system that is shutting down the UK’s growth engine and resulting in a bloodbath on our high streets.
“The threat of losing over half a million UK jobs must surely be reason enough for immediate action.
“We call on the Chancellor to announce a freeze on business rates increases in the Budget and introduce a new digital tax to slash the rates burden on hospitality from April 2020.”