Tourism News 31st May 2022

DCMS Annual Report (2020-21)

Some bedtime reading with DCMS’s 214 page annual report. The report lists the key tourism achievements of the department during the height of the pandemic as:

• • Delivered £10m Kick-starting Tourism Package to help small business in tourist destinations to access support
  • Developed a Tourism Recovery Plan published in June 2021

Of other interest is that Departmental tourism expenditure accounted for less than 0.5% of DCMS’s budget (£41m of £9.1bn) while tourism’s GVA of £72.5bn is 30%* of the total GVA of the Creative Industries, Cultural Sector, Gambling, Sport and Tourism sectors under DCMS’s responsibility.

*This figure would be higher if they sorted out the methodological problems with the Tourism Satellite Accounts which significantly under-report tourism GVA and employment

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1044657/DCMS_Annual_Report_and_Accounts_2020-21_-_web_accessible_version2.pdf

Live Events Reinsurance Scheme

DCMS has announced that the Live Events Reinsurance Scheme, which closes in September, has supported the staging of 150 events since it was introduced. This, in turn, has generated £400m in revenue and supported 15,000 jobs. While this is very welcome, the value of events that were supported by the scheme were low the context of usual £70bn per annum generated by events industry.

https://www.gov.uk/government/news/live-events-reinsurance-scheme-supports-over-400-million-of-investment-and-paves-way-for-busy-summer-events-season

Business Rate Revaluation Consultation

The next revaluation of properties for business rates will take effect from 1 April 2023 based on the rental market at 1 April 2021. As part of this process, the Government is required to consult on transition arrangements they have used previously to help businesses to adjust to their new business rates bills. This consultation seeks views on the format of the transitional arrangements for the 2023 revaluation. The questions are:

• • How do you believe the government should strike the balance in the 2023 transitional arrangements between supporting ratepayers facing increases to their bills and allowing the effect of the revaluation to flow through into bills?
  • What format of transitional relief do you think should be provided for the 2023 revaluation?
  • Do you think that we should continue to provide assurances through transitional relief that bills will not rise by more than a set percentage due to the revaluation?
  • Do you think we should provide different caps for different sizes of properties?
  • What are you views on how we should fund transitional relief within the requirement for the government to have regard to the object of securing (so far as practicable) that the scheme is revenue neutral over its life?
  • Do you have any other views on the format of the transitional arrangements for the 2023 revaluation?

https://www.gov.uk/government/consultations/business-rates-revaluation-2023-consultation-on-the-transitional-arrangements/business-rates-revaluation-2023-consultation-on-the-transitional-arrangements