Steve Brine MP raised concerns in Parliament over the ‘perfect storm’ facing the UK hospitality sector after being contacted by local businesses.
Following warnings from UK Hospitality’s Vice-Chairman, Kate Nicholls, the MP highlighted the twin issues of rising inflation and surging energy costs, which she said was a greater crisis than that seen during the pandemic.
The MP joined calls for a temporary reduction in VAT in business energy bills, dropping the rate from 20% to 5%, telling the Minister in the House of Commons; “I wonder whether that's something the Treasury is tempted by to stave off what could be significant job losses in the sector otherwise?”
The Economic Secretary to the Treasury, John Glen MP, responded to Steve Brine saying; “He always makes constructive suggestions and will be aware of the interventions that have already been made, in terms of the cut on VAT on energy efficiency measures equivalent to £240 million, as well as the £6.7 billion of investment across this Parliament in energy efficiency measures.”
Further to the this Mr Brine was also offered a discussion with Treasury officials and Ministers as the Government look ahead to the Autumn spending review.