What steps he is taking to ensure that rural hospitality businesses are adequately supported in the context of (a) rising wholesale food prices, (b) energy costs, (c) increased (i) wage and (ii) NIC pressures and (d) insurance premiums.
Government fully recognises the importance of hospitality businesses in rural communities, that’s why we’re providing support through a range of measures to ease pressures.We continue to monitor key agricultural commodities and work with the hospitality sector, supported by the UK Agriculture Market Monitoring Group, which tracks prices, supply, inputs, trade, and recent developments. The Zero Carbon Services Hospitality trial offers free energy and carbon-reduction advice. We will introduce permanently lower business rates for Retail, Hospitality and Leisure properties with a rateable value under £500,000. The Employment Allowance has been increased to £10,500, meaning 865,000 employers will pay no National Insurance Contributions enabling businesses to employ up to four full-time staff on the National Living Wage without incurring employer NIC costs. While insurers make commercial decisions based on risk assessments, the Financial Conduct Authority requires firms to offer fair value and monitors compliance, acting where necessary.