Budget 2014 Wishlist for Leisure and tourism
Ahead of Wednesday’s budget, Moore and Smalley’s sector experts give their predictions and say what they would like the chancellor to do.
“Rising energy prices are a particularly significant overhead for hoteliers and I’d like to see some specific initiatives announced aimed at reducing energy costs,” says Judith Dugdale, head of Moore and Smalley’s leisure and tourism team in Lancashire.
“Capital allowances are vital to leisure businesses that need to continually reinvest in their properties to maintain the quality of their product offering. Surely the increased allowance of £250,000 has to be maintained if the coalition is to send out the message that it is helping businesses invest for growth.
“The government has always been quick to rule out any reduction in the rate of VAT for the leisure sector, but that is something that could provide a real shot in the arm.”