Use Welsh funding boost to save businesses
UKHospitality Cymru has called on the Welsh government to use new Treasury support to provide backing for hospitality businesses in Wales.
UKHospitality Cymru (UKHC) has called on the Welsh government to use new Treasury support finance of £227m, announced by chancellor Rishi Sunak on 5 January 2021, to provide emergency backing for the threatened hospitality businesses and jobs in Wales.
“We live in dark days at the moment - a very dangerous time for the spread of Covid," says UKHospitality Cymru executive director David Chapman. "The Treasury announcement reflects that serious position but also recognises that our beleaguered businesses are once again forced to close for a precarious third lockdown period.
“Until now UKHC’s appeals for survival funding have been positively listened to by Welsh government. Now we need to see the consequential payments in Wales allocated to our industry in full and, critically, getting to the key businesses and the supply chains they sustain.
UKHC points out that, while furlough has been vital, it has also meant larger hospitality employers have had to pay 20% of wages for months of enforced closure. With reserves are gone, borrowing is high and the future is perilous.
“Substantial investment now would yield major returns for the economy when conditions improve," adds Chapman. "Let’s also keep our eyes on the future and build together a spring springboard for strategic recovery, for the hospitality industry’s survival, reopening, protection, growth and future prosperity in 2021 and the years to come.
“Put hospitality at the heart of Wales’ economic recovery. Make our industry one of the five new shining beacons of the Wales economy. Give us the status and the supportive investment that the industry needs to build.”