Meetings and events professionals have welcomed some aspects of the Chancellor’s Budget but remain disappointed at the lack of targeted help for the industry.
“Once more the meetings, events and accommodation sector has been ignored by the Chancellor. It is deeply disappointing,” Simon Richards, HBAA treasurer and managing partner of Convenus said. “What more does our industry have to do to be recognised and appreciated at the highest levels of government?”
“There was £700m for arts and sporting institutions; £5bn in grants for shops, hospitality and leisure businesses - Business-to-Consumer sectors. Yet there was no mention of support for meetings, events and accommodation agencies or venues anywhere - the Business-to-Business sectors which have faced all the same issues of having to survive without any income until lockdown eases - and will do so for some months longer as the lead time for events is much longer.”
Jane LonghurstSimilarly, the Meeting Industry Association (mia) said it was "underwhelmed" by the budget.
“While today’s budget does offer some immediate relief which we are grateful for, we are disappointed by the measures outlined by Rishi Sunak as it is clear that government does not appreciate the scale at which the sector has been impacted,” mia chief executive Jane Longhurst said.
Contrary findings
The mia pointed out that its recent research revealed that the events sector would not fully recover until 2023 which conflicts with Sunak’s statement that the Office for Budget Responsibility (OBR) is optimistically expecting the UK economy to return to pre-Covid levels by the middle of 2022.
A missed opportunity
UKinbound CEO Joss Croft said the budget should have listed sector-specific help. and that it was a "disappointing and huge, missed opportunity” to hear that sector-specific support will not be provided.
“The extension of furlough is very welcome news for our industry, as is the business rates holiday and its further cut. We’re also pleased that leisure grants of up to £18k will be available for businesses that need to stay closed for longer, but we urgently need confirmation from Government that tour operators, coach operators, language schools and event organisers will be eligible for these grants, having been unfairly excluded to date.”
What about bigger businesses?
Sunak’s budget included an £18,000 grant for hospitality and leisure business, however, Jane Pendlebury, CEO of the Hospitality Professionals Association (HOSPA), questioned how far that will stretch for larger businesses.
“The £18,000 figure quoted by the Chancellor, whilst ample for smaller businesses, isn’t enough for bigger hospitality businesses, hotels and hotel groups – the largest employers, with the largest overheads.”
Joss CroftThe extension of the furlough scheme, while welcomed, set alarm bells ringing for Pendlebury.
“A key thing, as an industry, we were hoping for was an extension of furlough until June – helping us to get beyond May’s reopening date. A definitive end date to aim for was, for many, a cause for optimism and enough to suggest that we’re almost there, with the finish line in sight. But, whilst satisfying hospitality’s need, the September extension of furlough does set some alarm bells ringing. Does it mean that further restrictive measures will be hanging over us? Or is it simply in anticipation of a future spending review?”
A closer look at the details
The Business Visits & Events Partnership (BVEP), welcomed the additional business support but said it will remain 'cautious' until the finer details of the support pledges are announced, as it is still unclear how much support event businesses will receive.
In a statement, the BVEP said: "The Chancellor has responded to the Partnership’s ask for extensions to current business support. However, there’s a need to look more closely at the extent of these and other measures in so far as they apply to the Events Industry, including the additional funds allocated for the Cultural Recovery Fund.
"The reopening roadmap does not mean an instant recovery for the industry. As has been constantly emphasised events take months to plan and many will not return until well into the back end of 2021 and many more until 2022. On this basis, event businesses will need more support than many other sectors of the economy which can open reasonably immediately when permitted to do so," the BVEP statement added.
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A desire to travel led Holly Patrick to the business meetings and events world and she’s never looked back. Holly takes a particular interest in event sustainability and creating a diverse and inclusive industry. When she’s not working, she can be found rolling skating along Brighton seafront listening to an eclectic playlist, featuring the likes of Patti Smith, Sean Paul, and Arooj Aftab.
