Hospitality UK: lateness of Budget hit consumer spending

ODN

Chair of UK Hospitality Kate Nicholls says the late timing in the year of the Chancellor's Budget impacted consumer confidence, leading to less spending in hospitality business and, according to her, the shrinking of the economy by 0.1% in the three months to October. Report by Keechl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Transcript

00:00Life is incredibly tough for our hospitality businesses. Often the money

00:03coming through the front door is not enough to cover the cost of doing

00:06business and the viability of the business then becomes under threat and

00:09what we've seen with the today's GDP figures and the Barclay card data that

00:13we had earlier in the week is that footfall in spend was down, consumer

00:17confidence weakened as the result of the budget being very late and a lot of

00:21last-minute speculation. So September, October and we suspect November spending

00:27in-hospitality hit.

Category

Transcript

Be the first to comment

Recommended