budget

beam, the association for the business events, accommodation, and meetings industry, has reached out to its members and to UKEVENTS for their reaction to the Chancellor’s 2025 Budget announcement.

Early feedback highlights a blend of cautious optimism and significant concern across the sector.

Louisa Watson, Chair of beam:
“beam welcomes the Chancellor’s announcement of permanently lower business rates for retail, hospitality and leisure properties under £500,000 rateable value. This is a meaningful step that will provide long-term stability for many small venues within our sector.

“However, at this stage the government has not yet published the new business-rates multipliers or the full transitional-relief tables. Until those technical details are released, it is not possible to calculate the exact monetary impact of the relief for individual properties. The level of benefit will vary depending on each venue’s rateable value and position within the new structure.

“beam also notes that the mid-sized and larger hotels and major conference venues that underpin the UK’s business events industry, could face higher rates under the proposed changes. These additional costs, alongside rising staffing expenses and wider tax adjustments, will place further pressure on operators at a time when margins are already tight.”

Andrew Deakin, Managing Director of Conference Care:

“This Budget offers little to boost business confidence or stimulate growth. Instead, it reinforces a system where private enterprise is treated as a cash machine, with higher payroll costs, frozen tax thresholds, increased dividend and investment taxes, and reduced incentives for those who drive economic activity.

“It places further pressure on margins, erodes rewards for risk-taking, and does nothing to address the underlying issue of low workforce participation. Rather than encouraging productivity, innovation and investment, it risks accelerating the movement of capital, talent and entrepreneurial energy to more business-friendly environments such as Dubai, Singapore, and Switzerland.”

Jonathan Read, Director of Global Sales & Partnerships UK&I, Leonardo Hotels UK and Ireland

“My personal opinion (as a hotelier operating within Leonardo Hotels), is one of disappointment in the UK government’s latest budget. It provides no meaningful support for businesses in our sector and shows little leadership in spurring on promised economic growth.

“For a government that pledged to be the fastest-growing G7 economy, this Budget offered no bold plan for growth. Instead, has left businesses facing a complex climate rather than a simpler route to growth.

“Meanwhile, mid and large sized hospitality venues remain taxed out by the broken business rates system, and the Budget’s token relief – just a quarter of last year’s promised discount – means many of us still face higher rate bills. We are also grappling with steep wage and tax hikes with no offsetting help, and the new tourist levy is effectively a direct tax on hotels; an increased burden at a time when the industry is already under pressure.”

Julie Shorrock, Managing Director, Hotel and Travel Solutions (HTS):

“The measures outlined offer some potential support for the hospitality sector, but several areas require urgent clarification. The proposed Business Rates Relief is welcome in principle, but venues need clear guidance on the new multipliers and detailed qualification criteria before they can assess the real impact on their business operations and any potential knock-on for end-customer costs.

“The introduction of the £2,000 pension salary-sacrifice allowance is interesting, but with implementation not planned until 2029, it remains uncertain and difficult to factor into long-term planning.

“And further changes to the minimum wage, while understandable in the broader economic context, will put additional pressure on an already cost-strained hospitality industry. We need complementary measures to ensure that businesses can absorb these increases sustainably while continuing to invest in their people, or we risk losing further talent and our longer-term pipeline of industry leaders.”

Glenn Bowdin, Chair of UKEVENTS:

“The Autumn Budget recognises some of the priorities UKEVENTS included in our submission, with measures on business rates, regional investment and skills that will help parts of our sector. However, the events industry remains an economic powerhouse with untapped potential.

“We continue to urge government to extend tax reliefs for new and regional event productions based on the established model for film and extend the VisitBritain Business Events Growth Programme, both of which have evidence for supporting growth. We welcome the steps taken and urge continued collaboration to ensure events are at the heart of the UK’s growth agenda.”

David Tremmil, Vice-Chair and Advocacy Director of beam:

“While households will see welcome cost-of-living support, yesterday’s Budget did not provide a dedicated support package for the business events, meetings, hospitality or visitor-economy sectors. These industries remain essential drivers of economic growth, skills, inward investment and regional development.

“beam will continue to engage with government to ensure that future policy recognises the strategic importance of our sector. We urge the Chancellor to work with our industry on long-term business-rates reform, skills development, transport infrastructure and sustainability to ensure the UK remains a competitive global destination for business events.”