Michael Hirst, Chairman of the Business Visits and Events Partnership (BVEP), says the events industry must focus on the positives to come from Chancellor George Osborne’s Autumn Statement released yesterday (5 November).
“The Chancellor’s Statement is thankfully not all about Autumn leaves falling as UK growth forecasts drop and reduction in debt remain stubbornly high,” says Hirst.
“There are some practical measures which should benefit Britain’s businesses and consequently buoy their commercial activities in many cases leading to greater use of events to disseminate information, communicate brand messages and show-off their products and services. And what is good for business is good for business tourism,” he adds.
Included in the statement were a 25 per cent increase in budget for UKTI, an organisation that the events sector is already actively building strong relationships with to add further value to the trade, inward investment and export potential our industry promotes at conferences and trade shows.
There’s also to be an additional investment of £30m in the GREAT programme, in which the events sector already has a stake alongside the promotion of creativity, innovation, culture, music and sport together with the iconic attractions of Britain’s tourism offerings.
“The additional money made available for Local Enterprise Partnerships should also help our destination partners where marketing of event venues and services is so critical to their success and strengthens one of Britain for Event’s objectives to highlight the benefits of events in local communities,” says Hirst. “There is also more money pledged for sport which should manifest itself in more sporting events too.”
The Chancellor also outlined a £600m investment in scientific research, on top of the £300m already provided earlier in the year plus support for Aerospace, Advance Manufacturing and Exports which should help boost events in these sectors and strengthen the knowledge economy on which association events so heavily depend.
“Reductions in corporate taxes and increases in business investment allowances should incentivise business growth, which is always good news for business events and potentially encourage more international businesses to locate themselves in the UK growing the potential domestic market base,” says Hirst.
“Investments in road and rail infrastructure and the dropping of the intended three pence additional fuel duty in January will be valuable too in improving communications with key business destination where conference and exhibition venues depend upon ease of access to attract delegates and attendees,” he adds.
The negatives outlined by Hirst in the statement included no direct responses to industry pleas on VAT reductions and Air Passenger Duty.
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