Ahead of the spring budget, which will be delivered in the House of Commons on 26 March, beam, the trade association for the business events industry, have urged the UK government to support growth in the UK’s business events, accommodation and meetings industry.
Industry leaders are urging the Chancellor to use the opportunity to implement measures that reduce operational costs, unlock long-term investment, and reinforce the UK’s position as a global hub for business events.
Chair of beam, Louisa Watson said: “I speak on behalf of a sector that continues to show resilience and innovation in the face of ongoing economic uncertainty. The business events, accommodation and meetings industry contributes more than £61 billion to the UK economy each year, yet it remains particularly vulnerable to inflationary pressures, talent shortages and inconsistent government support.”
She added: “Ahead of the Spring Budget, our message to the Chancellor is clear. If the government is serious about driving growth, then thoughtful and targeted support for our sector must be part of the plan. Voices from across our membership highlight the need for measures that unlock long-term investment, ease operational costs and strengthen the UK’s competitiveness as a global destination for business events and tourism.”
Industry leaders stress the need for targeted government support, including VAT reductions, investment in training, and continued backing for business tourism, to ensure long-term sustainability and competitiveness.
Linden Beattie, general manager at Down Hall said: “The government has made economic growth a clear priority, and we hope the Spring Budget delivers measures that ease inflationary pressure and support that ambition. Businesses in our sector urgently need relief from rising costs to stay competitive and continue fuelling economic activity. The right policies can unlock growth, investment and global competitiveness.
He added: “The UK’s 20% VAT rate on business events, accommodation and meetings is among the highest in Europe, adding pressure on margins and increasing costs for venues, agencies and clients. Reducing VAT would ease the burden, improve affordability and help position the UK as a stronger global destination for conferences and meetings.”
Beam and its members emphasise that the sector is not just responding to economic growth but actively driving it. Watson said: “The Spring Budget offers a chance for government to show it values this contribution. We urge the Chancellor to take it.”
