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Topic - U.K. Economic Outlook

U.K. Economic Outlook

UKHospitality Responds to New UK Interest Rate Rise

'We would also urge flexibility on loan repayments, including extension to terms, options to move to interest-only payments or delay altogether, and flexible arrangements from HMRC for tax payments.'

U.K. Economic Outlook
Infographic - U.K. Economic Outlook

GlobalData Upgrades UK Economic Growth Projection for 2023

The UK is poised for a modest economic upturn due to lower energy prices, government support measures, and a robust labor market. However, trade prospects may remain lacklustre due to the sluggish economies of major trading partners.

U.K. Economic Outlook

U.K. Interest Rate Rise Will Inflict 'Economic Pain' on Hospitality

'Loan repayment is not the only price pressure businesses face, with the sector now in a period of peak energy pain. Urgent action is needed from Government to bring costs down, particularly on energy, and more needs to be done to assist businesses in their pandemic debt.'

U.K. Economic Outlook
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Bank of England's Suggestion Would Lead to Business Failure and Job Losses

Leading trade body UKHospitality has hit out at the suggestion from the Bank of England Governor Andrew Bailey that businesses should not raise prices above the rate of inflation, when businesses are facing energy, food and drink costs far above the current 10% inflation rate.

U.K. Economic Outlook
An 'Open' sign at a restaurant

UK Hospitality Responds to U.K. Budget

The measures announced today are significant in incentivising people back into work and hopefully alleviating crippling labour shortages. The wider economic forecasts also give us encouragement that consumer confidence and spending are in for an upturn, albeit over time.