The hospitality industry is the latest sector to warn of rising prices as a VAT hike hits bars and restaurants
“The now inevitable price rises for consumers will dampen demand and many hospitality businesses – one in three having less than a month of cash reserves and most are carrying heavy debt burdens – will fail as a result. This can only cause the UK’s wider economic recovery to falter.”by UKHospitality uncovered a 95% average rise in recent energy bills, 19% jump in labour costs, and a 17% and 14% increase in food and drink prices, respectively.
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