"Britain's late-night economy is at risk of losing up to 10,000 more venues and 150,000 jobs by 2028 unless the Chancellor delivers urgent support in the Autumn Budget, industry leaders have warned. The Night Time Industries Association (NTIA) said rising costs, fragile consumer confidence and the threat of further tax increases have pushed the sector to the brink, with many operators poised to close in the New Year if measures go against them."
"Many venues warn they may "hand back keys" shortly after the Budget if conditions worsen. If no intervention comes on 26 November, the NTIA estimates the UK could lose up to 20% more late-night venues on top of those already shuttered since the pandemic. The consequences would ripple across hospitality, events, security, live music, supply chains and local economies. Michael Kill, CEO of the NTIA and Vice President of the International Nightlife Association, said the sector has been "suppressed for too long" by rising costs"
Britain's late-night economy faces severe decline, risking up to 10,000 venue closures and 150,000 job losses by 2028 without urgent Autumn Budget support. Late-night venues have fallen 28% since March 2020, with independent operators down more than 30%. Rising operating costs — energy, supply chains, staffing and National Insurance increases — combined with fragile consumer confidence and potential further taxes, threaten margins. Additional pressures from alcohol duty, fuel, taxi fares and gambling levies could reduce demand further. Grassroots clubs, bars, festivals and cultural sites are most at risk, with knock-on effects for hospitality, events, live music and local economies.
Read at Business Matters
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