UKHospitality Cymru is calling on Welsh Government to boost beleaguered pubs, hotels and restaurants in Wales and provide vital business rates relief in next week’s Budget.
The leading trade body is asking Finance Minister Rebecca Evans and the Welsh Cabinet to at least replicate the measures introduced for English businesses in the Autumn Statement to support hospitality, leisure and retail businesses.
Without any action to extend relief and freeze the multiplier, the Welsh hospitality sector is facing an additional £50m in costs.
David Chapman, Executive Director for UKHospitality Cymru, said: “We have seen in recent years just how critical our village, coastal and urban pubs are to local communities: employing thousands, benefiting our wellbeing and contributing to our culture.
“A constructive package of business rates relief for the sector will be the difference between survival and closure for many – and between investment and stagnation for others. Freezing the multiplier and extending 75% relief of business rates will offer our businesses a lifeline in the current economic environment.
“Inaction would mean an average pub facing around £10,000 in additional business rate payments, which could shut their doors for good and stop pints being pulled.
“High energy costs, food and drink inflation and the squeeze on the cash in our customer’s pockets and purses are having their effect and any help our hard-pressed businesses can get right now would be invaluable.”