“The help so far for hospitality has been invaluable in keeping businesses afloat, but the latest measures, whilst offering support, don’t really go far enough given the fact the industry genuinely is on its knees.
With the latest coronavirus restrictions infringing hospitality margins even more, businesses are teetering on the brink with no room to spare.
From the plans announced today, the extension of the reduction in VAT until March 2021 is the major positive, as this has been a huge help in improving margins and has proven to be a vital lifeline for many operators.
However, while we’re pleased to see the implementation of the Job Support Scheme – which should help top up hospitality workers’ wages given reduced hours following the 10pm curfew – it still won’t prevent major job losses. Even viable businesses that will manage to survive the next few months and beyond will no doubt need to make cuts to staff. But as for those (previously viable businesses) hoping to just about limp through the pandemic and make it through to the other side – the end of furlough may prove to be one hurdle too far.”