Almost three quarters of hospitality businesses have less than six months of cash reserves as tax rises force workforce cuts: Almost three quarters (73%) of hospitality businesses have less than six months of cash reserves, with one in five having no cash reserves at all, a new study has revealed. The latest member survey from UKHospitality, the British Institute of Innkeeping, the British Beer & Pub Association and Hospitality Ulster also found 69% of respondents are operating at or below 85% of their required capacity as tax rises have forced them to cut their workforce. As a direct result of April’s cost increases, 79% have increased prices, and more than half have cut staff numbers. Hospitality businesses are now asking for a reduction in VAT, an amendment to April’s changes to employers’ national insurance contributions and lower business rates for the sector. In a joint statement, the trade bodies said: “This shocking data reinforces the urgent need for government to recognise the incredible pressure hospitality businesses have been put under, particularly since April, and illustrates why it should come forward with measures to support this vital sector at the Budget. Unsustainable tax increases are squeezing businesses, stifling growth and investment, and threatening local employment, especially for young people. It is forcing businesses across the sector to make impossible decisions to cut jobs, put up prices, reduce opening hours and sadly limit the support they desperately want to give their communities. Hospitality is united in which measures will reverse this trend and drive growth: a reduction in VAT for hospitality, changes to employers’ national insurance contributions and permanently lower business rates for the sector. Now is the time to act and back a vital British sector that supports the economy, jobs, and local communities. We urge the government to do so at the Budget this autumn.”

Toggle and BHN to launch new gift card that champions independent and small-chain restaurants: Experience platform Toggle and global branded payments business Black Hawk Network (BHN) have partnered to launch a new gift card that champions independent and small-chain restaurants. The Foodie Favourites Gift Card is a new multi-brand gift card that will be available from October and is designed for diners who seek out unique culinary experiences and special occasions – from neighbourhood gems to authentic small chain concepts. Cards can be loaded with any value between £15 and £200 and will be available to buy from Tesco stores, excluding Tesco Express or Metro Stores, and at One4all’s website. Toggle chief executive Dan Brookman said: “The Foodie Favourites Gift Card will create a new revenue stream for operators, and being able to access the circa £300m loaded onto One4all each year will undoubtedly provide a well needed revenue boost for participating restaurants.” David Walsh, vice president original content EMEA at One4all Gift Cards, part of BHN, said: “Foodie Favourites Gift Card is a concept BHN has been eager to bring to life for several years, and with over 300 new restaurant partnerships expected, this effectively doubles our network overnight.”