MUMBAI: NTIA reacts to Chancellors winter economy plan – Empty Promises has left us as an industry in Exile
Quote from Michael Kill CEO NTIA, “Shock, horror and despair have reverberated across swathes of the night-time industry as more details of the Chancellor’s Winter Economy Plan have been revealed”
It is now clear that there is no support for businesses in the sector which are still forced to remain closed due to COVID-19 restrictions. Even the businesses that can reopen in the industry are unable to see the benefit of the scheme as the recent 10pm curfew makes operating barely viable.
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The government has chosen to support only businesses able to operate viably and is completely ignoring those who have been unable to trade since March whilst leveraging crippling restrictions on the businesses that can open.
The night-time economy has been totally disregarded by government policy. The government narrative has delivered empty promises and left us an industry in exile. Debt terms have been driven further down the road for a sector that is already overburdened financially, with many of our members languishing in up to three quarters of commercial rent arrears with no certainty on whether they can pay this.
It is simply not good enough to allow much loved entertainment, cultural and social institutions in an industry that, pre Covid, employed over 1.3 million and contributed £66 billion per year to the UK economy to disappear with all the corporate and personal pain that causes.”
At some point these businesses will have to draw a line and will be forced to make a decision on the future of their businesses and their workforce.”
