Ahead of the Spring Budget, which will be offered in the House of Representatives on March 26th, Beam, the industry association for the business events industry, urged the UK government to help grow the UK business events, accommodation and conference industries.
Industry leaders are urging the Prime Minister to use opportunities to implement measures that will reduce operational costs, unlock long-term investments and strengthen the UK’s position as a global hub for business events.
Beam Chairman Louisa Watson said: “I speak on behalf of the sector that continues to show resilience and innovation in the face of ongoing economic uncertainty. The business events, accommodation and conference industries contribute more than £61 billion each year, but are particularly vulnerable to inflationary pressures, talent shortages and government support.”
She added: “Ahead of the Spring Budget, the message to the Prime Minister is clear. If the government is serious about driving growth, thoughtful and targeted support for our sector must be part of the plan. Voices from our entire membership highlight the need to unlock long-term investments, ease operational costs and strengthen our competitiveness as a global destination for business events and tourism.”
Industry leaders emphasize the need for targeted government support, including reducing VAT, investing in training, and continuing support for business tourism, to ensure long-term sustainability and competitiveness.
“We’re looking forward to seeing you in the future,” said Linden Beattie, general manager of Down Hall. “The government has made economic growth a clear priority and hopes that the Spring budget is taking steps to ease inflationary pressures and support its ambitions. Companies in our sector need to urgently bail out from rising costs to stay competitive and promote economic activity.
He added: “The UK’s 20% VAT rate for business events, accommodation and meetings is the highest in Europe, and by adding pressure on margins, agents and client margins and reducing VAT, it will help ease the burden, improve affordability and help the UK as a stronger global destination for conferences and conferences.”
Beam and its members emphasize that the sector is not only responding to economic growth, but is actively promoting it. Watson said: “The Spring Budget provides an opportunity for the government to show that it places importance on this contribution, and urges the Prime Minister to take it.”
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