Disappointment was the main emotion as leading eventprofs
reacted to the budget, with dismay at the lack of recognition for business
meetings and events.
There were small wins in the form of the freeze on alcohol
duty and tax relief for SMEs, but there was no direct help for the sector from chancellor
Jeremy Hunt, delivering his final budget before the next general election.
Simon Richards, finance director of beam, said: “The
Chancellor’s Spring Statement was very disappointing to our members as it
offered no direct benefit to the meetings industry.
“We welcome the freeze on alcohol duty and all working people will benefit from
the cut in National Insurance. However, to maintain the world class standards
for which the British meetings industry is renowned globally, we need help to
invest in people. Sadly there was none.”
The Meetings Industry Association (mia) chief
executive, Kerrin MacPhie, also welcomed the freeze on alcohol duty, but
expressed dismay that the chancellor had not gone further to recognise meetings
and events.
“It is great the government has declared its support
for the hospitality industry and the ‘Great British Pub’. Despite this, it is
extremely disappointing that the government has yet again failed to recognise
that hospitality is so much more. It encompasses so many other areas, including
business meetings and events, that contribute hugely to the UK economy.”
MacPhie also lamented the announced one-off adjustment to
Air Passenger Duty on business class tickets, which she said will make hosting
business meetings and events in the UK less attractive for international
events.
“While we understand the notion that this will boost
government revenue to fund tax cuts, UK government must recognise the fierce
competition we’re facing from overseas destinations and venues,” she said.
The budget featured tax relief for SMEs with the confirmation
that the Growth Guarantee Scheme (the renamed Recovery Loan Scheme) will run
until the end of March 2026. The scheme will offer a 70 per cent government
guarantee on loans to SMEs of up to £2 million in Great Britain, and £1 million
in Northern Ireland, which MacPhie hailed as “good news for smaller operators”.
She also welcomed the move to allow an extra 60,000 parents
to enter the workforce by continuing to fund free childcare hours for parents
of children aged more than nine months, saying that it will assist the sector
in its ongoing recruitment challenge.
The UK film industry received a boost, with news that UK
films budgeted up to £15m will now receive tax relief of 40 per cent.
Michael Hirst OBE, chair of advocacy & government relations
working group at UKEVENTS, took creative industries minister Julia Lopez to task
on X/Twitter about the lack of a similar scheme for the meetings and events
sector.
Replying to Lopez, he said: “The U.K. has an exceptional
live events industry too which can power the visitor economy & drive
economic growth across the Country. It too deserves similar incentives to grow
a National programme of outdoor & business events showcasing Britain’s
creative talent to the world.”
He added that he was "still waiting" for the events sector to receive similar recognition.
The budget also saw orchestras, museums, galleries and
theatres benefit from a permanent 45 per cent tax relief for touring
productions, as well as 40 per cent relief for non-touring productions.
MacPhie said: “Business meetings and events are often huge
productions, so it disappointing that similar relief hasn’t been considered for
the sector. International congresses such as the large medical association
events or even the annual party political conferences contribute massively to
regional communities, however fail to receive any recognition once again.”
