On 26 May, Chancellor Rishi Sunak announced a £15bn package of support for households struggling with the cost of living crisis, part-funded by a £5bn windfall tax on energy companies.
The support includes an energy bill discount of £400 for every household in the UK, plus a one-off payment for families on means-tested benefits.
However, hospitality businesses across the UK had hoped that the announcement would include further support for businesses, particularly following their recent calls from the sector for the government to implement a temporary reduction in VAT on business energy bills in the face of rocketing inflation.
Michael Kill, CEO of the Night Time Industries Association which represent 1,400 independent bars, clubs and live music venues said:
“Time is running out for businesses, as costs ramp up, we continue to call for a reduction in VAT back down to 12.5% and an energy cap for SME businesses.”
Emma McClarkin, Chief Executive of the BBPA said:
"It is right that the government helps those who are struggling, however this is an acutely painful time for businesses as well – we need the government to act now and take measures to immediately bring down costs and alleviate the pressure on our pubs and brewers.”