‘More than three-quarters’ of UK hospitality firms could go bust within a year August 4, 2020 More than three-quarters of UK hospitality businesses are at risk of insolvency within 12 months, the leading British trade body announced today, as social distancing measures and local lockdowns continue to weigh on the sector. A new survey by UK Hospitality showed that one in five hospitality businesses are at significant risk of insolvency within [...]
Business travel firms call for government help to avoid 10,000 job cuts August 3, 2020 The UK’s business travel sector has called on the government to provide it with an emergency rescue package to help prevent up to 10,000 jobs being lost this year. The chief executive of industry body the Business Travel Association (BTA) has written to chancellor Rishi Sunak, transport secretary Grant Shapps and business secretary Alok Sharma [...]
Pubs may have to shut to keep schools open, hints Number 10 August 3, 2020 Pubs may have to close in order to meet the government’s promise to reopen schools in September, Downing Street hinted today. The government is “planning for all people to return to school from the beginning of the autumn term”, and this may require venues to temporarily close in order to contain local outbreaks, said the [...]
Downing Street admits it could impose M25 quarantine ring August 3, 2020 Plans to introduce a quarantine ring around the M25 to halt travel in and out of London are “within the government’s contain strategy”, Downing Street said today. The admission came as the Prime Minister scrambles to curb a spike in infections across the country. Boris Johnson is said to have held a “war game” session [...]
Sadiq Khan slams ‘unacceptable’ London lockdown plans August 3, 2020 London mayor Sadiq Khan has hit out at Boris Johnson after the Prime Minister reportedly discussed drastic contingency plans to lockdown London in event of a second coronavirus wave without involving City Hall. One of the options discussed by Johnson as part of a “war gaming” session with chancellor Rishi Sunak was using the M25 [...]
Estate agent Purplebricks reports record-breaking July instructions August 3, 2020 Estate agent Purplebricks recorded its highest ever month for instructions in the UK in July due to the stamp duty holiday and pent-up demand following the coronavirus lockdown. Shares in the company jumped 4.59 per cent this morning after it announced that it listed a record-breaking 7,000 homes in July. The figures Purplebricks this morning [...]
DEBATE: Is Rishi Sunak’s digital tax a good idea to save the high street? August 3, 2020 Is Rishi Sunak’s digital tax a good idea to save the high street? Jordan Shlosberg, co-founder of proSapient, says YES. High street retail is not fundamentally unprofitable, but is disadvantaged compared to online retail through higher taxes and overpriced leases. Through shifting the national tax burden from physical to online retail, the government can support [...]
Over four-fifths of UK midcaps have just nine months funding left August 3, 2020 Over four-fifths of the UK’s medium-sized businesses will not be able to continue trading for more than nine months under current funding arrangements, a new survey from accountants BDO has found. The 500 medium sized businesses have on average borrowed £21m in loans as a result of the coronavirus pandemic, the data showed. Of these, [...]
Boris Johnson considers M25 border among new lockdown measures August 2, 2020 Boris Johnson is considering a fresh raft of lockdown measures in England including restricting travel beyond the M25, as the Prime Minister scrambles to contain a spike in infections across the country. Plans are being assessed after a sharp rise in new coronavirus cases last week forced the Prime Minister to apply the brakes on [...]
Eat Out to Help Out – the best restaurants taking part in the government hospitality scheme August 1, 2020 There was a time when dropping most of your disposable income on avocado on toast made you an idiot who will never be able to afford a house. Now it makes you a hero who will save the economy. It’s so vital that you start eating at restaurants again that, as of Monday, the government [...]