North-West-based Hospitality Hero urges for Chancellor Jeremy Hunt to bring in tax cuts including a reduction in the VAT rate in the Spring Budget.
Hotelier and Hospitality Expert, Steven Hesketh, aka The Hospitality Hero, has said that said the current recession is an unsettling time for many families but it will likely be “short and sharp”, but he has urged for Chancellor Jeremy Hunt to bring in tax cuts including a reduction in the VAT rate in the Spring Budget. The current 25 percent “truly hurts the small businesses, that are the ultimate lifeblood of the UK.”
Steven, who is the Chair of the Chester Hospitality Association, Vice Chair of the Chester Hospitality (Association) & Committee Member for UK Hospitality (Northern Region) said; “I would like to see a flat drop in VAT to 17.5 percent to give everybody a leg up so to speak. The economy needs a lift and, ultimately more money in people’s pockets will help everyone.”
With the latest economic figures showing the UK economy has gone into recession, Steven has said this will likely be a “very short and sharp recession.” He continues; “I am quietly optimistic that the recession is likely to be mild and short lived, and that there is still an opportunity for our industry to be buoyant.”
“Yes, the reality is that the past couple of months have been quieter and stagnant – and, we know December and New Year’s Eve was not as strong as previous years, so this announcement is no surprise, but I believe things are now picking back up.”
The hotel boss reopened one of his venue, The Townhouse in Chester last week after a full refurbishment with a £200,000 investment in the business. He was predicting a slow start after the relaunch but he said the venue has been full every night.
He said people are still willing to splash out on a meaningful memory despite the current economic circumstances. He explains: “It is an unsettling time for many. This uncertainty can understandably make people cautious on what’s next, so holding onto their funds definitely will be in people’s minds, that said people generally want to enjoy life, so when they spend it’s important on things that are important to them.
“Yes, people are being cautious and careful with their money, but then that means hospitality venues need to offer a worthwhile experience.”
