Rishi Sunak’s hospitality financial ‘package is far too little and borders on the insulting’

The Chancellor has announced on Tuesday that he will provide the hospitality and leisure sectors with a £1bn additional financial support package.

The Treasury will also provide £30m to top up the Cultural Recovery Fund for theatres and museums.

Rishi Sunak said he is taking these measures as the situation is “very difficult, especially for those in the hospitality industry” as Omicron has crippled the hospitality sector as there has been mass cancellations.

Michael Kill, Chief Executive of the Night Time Industries Association said, “Businesses are failing, people are losing their livelihoods and the industry is crippled.”

“Mixed messaging, coupled with additional restrictions, have had a catastrophic impact on our sector over the last two weeks.”

“At this critical point, we need strong leadership and a clear pathway from Government with a long term strategy for new Covid variants. The open/close strategy is crucifying businesses.”

“Every pound of help is much needed. But this package is far too little and borders on the insulting.”

Leading tax and advisory firm Blick Rothenberg also slammed the Chancellor’s package and said the ‘limited support measures announced by the Chancellor today are a ‘drop in ocean’ when compared to the previous government support packages.”

The advisory firm said the Chancellor is merely “paying ‘lip service’ to business who have been severely impacted this month,” as it really is not enough.