It’s much too soon to see if there will be new policies that affect the hospitality industry, and we expect details of the ministerial appointments today. However, the Conservative victory seems to have been greeted with some relief, as well as hope for positive action on business rates (in particular). Time will tell…
Start by cutting tourism VAT to 5%
Ufi Ibrahim, chief executive of the British Hospitality Association said:
“The threat of having no clear winner in the general election was just as bad as the wrong result for business and consumers. Now the coalition veil has been lifted there is no room for excuses. The hospitality and tourism industry expect the new Conservative Government to start delivering from day one.
“Our top agenda item for the Prime Minister and the Chancellor is to cut tourism VAT to 5% which could massively boost jobs, bring billions of new revenue to the Treasury and directly improve the livelihoods of people in struggling communities across the UK. Let’s hope consumers are the winners in the final result and can look forward to the benefits of an increasingly healthy economy.”
Push for business rates and tax reform
Kate Nicholls, Chief Executive, ALMR:
“A clear result, albeit a slim majority, provides a measure of stability for businesses; stability that is sorely needed by businesses in order to invest. An incoming Conservative Government, rather than a coalition or Labour Government, potentially favours greater emphasis on voluntary and partnership schemes such as Purple Flag and Best Bar None. Traditionally, the Conservative Party has favoured industry self-regulation as opposed to costly intervention and we welcome this. The ALMR is also looking forward to continuing its work liaising with the Government to push for business rates and tax reform and a fairer, more flexible deal for licensed hospitality.”
Removal of attacks on business
Luke Johnson, writing in his Sunday Times column, makes no bones about welcoming the result:
“Ed Miliband constantly attacked business – using the phrase ‘predatory capitalism’ – threatening controls on pricing in the energy and rented property sectors, and promising to reverse the sensible Tory reforms to employment law. It was felt that he alienated wealth creators to stoke the politics of envy. He and his cohorts knew virtually no entrepreneurs and poured scorn on the remarkable generation of two million private sector jobs in the past five years. By contrast, the Conservatives embraced business and promoted entrepreneurship relentlessly.”
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