Commenting on the Autumn Statement, James Shorthouse, Head of Colliers International’s Specialist Division said:
“The Chancellor’s decision to cancel January’s 3p fuel increase will bring a drop of seasonal cheer to leisure operators as their customers feel fractionally better off. Therefore we won’t see the usual Budget ‘double whammy’ of fuel and alcohol duty increases, leading to the increased cost of a pint.
“An extension of the small business rates relief scheme will help a few of the smallest pub and restaurants, and the reduction in corporation to tax to 21% will please those at the other end of the scale, but most leisure and hospitality businesses will see little upside from today’s Statement.
“George Osborne’s confirmation of reduced growth forecasts will come as no surprise to those struggling to keep attracting customers and their cash, and although the long term infrastructure projects will create leisure development opportunities, the lack of debt funding still remains a massive brake on investment in the leisure sector as a whole.”