This was never going to be a budget that would be supportive of our industry, but the reality is, event and event businesses have been ignored again, with few morsels for us to be positive about. It does beg the question how much the government really does want this £65m industry.
For us in the event industry, this budget is all about employment and talent, something we at NOEA have made a priority over the last few years. With that in mind we are supportive of the increase in Living and Minimum wages as it supports our agenda of providing better, more stable, careers to event professionals.
However, while the support for employees is demonstrable, unfortunately there is no relief for the businesses that hire them. The increase in National Insurance represents a series of other taxes (pensions etc,) that make employment more expensive. This, in tandem with the changes to employment rights increases the risk of bringing in the best talent. It could suppress growth and lead to stagnation, or worse, the cutting of staff. The exact opposite of what we are striving towards.
At the very least these changes will lead to the continued increase in the cost of producing events. This will in turn influence higher ticket prices and the ostracisation of poorer people from attending events, again, the exact opposite of what the events industry wants, and a further nail in the coffin of the ‘lost generation’ of young event attendees.
Lastly, we really want to see more clarity for the devolved nations and the event businesses within them. We do welcome the 40% business rate relief, however past experience tells us that devolved parliaments, while receiving this money to reduce the relief, through the Barnett formula, do not pass this on to businesses. Equally, the rate relief detailed by the government for hospitality, isn’t always similarly interpreted in the devolved nations. This changes the playing field for businesses in Wales, Scotland and Northern Ireland.
It was never going to be a great budget, but it once again leaves events and event businesses without support when they need it the most.
Author: Adam Parry
Adam is the co-founder and editor of www.eventindustrynews.com Adam, a technology evangelist also organises Event Tech Live, Europe’s only show dedicated to event technology and the Event Technology Awards. Both events take place in November, London.
