Labor market in Great Britain. “One -third of companies in this industry shortens opening hours”
Since October last year, the number of lost jobs in restaurants, bars, pubs and hotels amounted to a total of about 89 thousand. – results from the Ukehospitality analysis, carried out on the basis of data from the Office of National Statistics.
The group stated that higher taxes announced by the Treasury Chancellor Rachel Reeves in the autumn budget slowed down investments and employment, adding that “urgent action” is necessary to reduce the rates of property tax and VAT. The Ministry of the Treasury announced that it helps pubs, cafes and restaurants, extending the relief in real estate tax rates and reducing the costs of license – writes the BBC.
UKHOSPITALITY organization, bringing about 750 members and representing over 123 thousand. facilities, she said that this sector is responsible for 53 percent. all lost jobs in Great Britain. In addition, about 4.1 percent were lost. all jobs in the sector.
Labor market in Great Britain. The hotel industry beats the alarm
“At the moment we are observing that one -third of companies shortens opening hours, one in eight declares closing branches, and 60 percent declares a reduction in employment,” said Kate Nicholls, chairwoman of Ukhospitality, in the TODY program at BBC Radio 4.
“Next year, we can expect very serious closures and bankruptcy of companies and accelerated job loss, and the scale of this phenomenon can be as high as during the Covid-19 pandemic period”-she added.
She added that the growing costs forced the hotel industry companies to make painful decisions to reduce full -time jobs, and part -time people working part -time and flexible forms of employment are often the most vulnerable.
The minimum wage increase that took place in April this year means that employers had to pay more to employees. There are also other costs, such as energy bills. Higher costs of conducting business activity coincide with the growing costs of maintenance, which means that people are less likely to go to restaurants to save, which reduces sales and industry profits – notes the BBC.
Source: BBC
