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Home >> News >> #RaiseTheBar - Campaign to support our shops, pubs and restaurants

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#RaiseTheBar - Campaign to support our shops, pubs and restaurants

As part of a national lobbying campaign, Better Bankside has called for the government to increase support for the retail, hospitality and leisure sectors

The retail, hospitality and leisure sector is vital to the economy and makes up 25% of businesses in Bankside. As part of a national lobbying campaign, we're calling on the government to #RaiseTheBar and increase the rateable value grant threshold from £51,000 to £150,000, to ensure much needed support gets to more businesses.

These are unprecedented times for our economy at a local, regional and national level. Industry leaders, political figures and Business Improvement Districts are calling on the Government to support businesses within the retail, hospitality and leisure sectors who have a rateable value of more than £51,000.

The retail, hospitality and leisure sector is vital to the UK economy and must be protected at all costs. The retail industry alone generated £394 billion worth of sales in 2019 with 306,655 units across the UK. In 2019, the UK leisure sector reached over £111 billion in sales. The UK hospitality employs over 3.2 million people, that is 11% of UK jobs, making it the third largest sector in the UK, accounting for £130 billion in revenue, 6% of all businesses and 5% GDP.

In London alone, there are 19,000 businesses with a rateable value of more than £51,000 and therefore with no access to the Retail, Hospitality and Leisure Grant. We believe strongly that the Retail, Hospitality and Leisure Grant provision and, in particular, the threshold of £51,000 to be far too low to provide adequate support to these businesses in their time of need. In raising the threshold to £150,000, over 13,000 in London will benefit.

To support the campaign individually whether you work in the sectors or not, you can visit raisethebarcampaign.co.uk and sign up to make a positive change, and sign the petition on Change.org. Make a difference to the retail, leisure and hospitality sectors - businesses we all love and need.

With thanks to our colleagues at Croydon BID who launched the #RaiseTheBar campaign.

Created Apr 24 2020