Hospitality hit by half of all UK job losses since Budget, industry leaders warn

UK hospitality industry leaders have reported that over half of the job losses in the country since the last budget are from their sector, amounting to approximately 89,000 job losses in restaurants, bars, pubs, and hotels. UKHospitality is calling for urgent action to reduce business rates and VAT, citing the impact of higher taxes announced in the Autumn Budget on investment and hiring. Rising costs, including the minimum wage increase and higher National Insurance contributions, compounded by reduced consumer spending due to the increased cost of living, are contributing to job losses and financial challenges in the hospitality sector.