On Trade Business is Looking Up
The Budget also gives a boost
Like-for-like sales in the On Trade sector grew by 1.6% in February, according to figures produced by the Coffer Peach Business Tracker. This result marks the 23rd consecutive month of positive growth and illustrates the public’s continuing desire to go out to eat and drink. Such consistent growth indicates that public confidence in the UK economy is improving at a steady rate. This boost to the On Trade sector may well accelerate throughout the remainder of 2015 following the government’s recent Budget. Duty on spirits was cut by 2%, a move which followed hard on the heels of the abolishment of the Alcohol Duty Escalator in 2014. Described as a “momentous result” by WTSA campaigners, this recognition of market need by the government is extremely good news for the industry and Hermitage Cognacs which are sold in many of the world’s top hotels and restaurants.
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