Latest news with #localeconomy
Telegraph
8 hours ago
- Business
- Telegraph
Labour's ‘toxic' tax will demolish the ‘Reynolds effect', warns Wrexham
Labour's plans to roll out a 'toxic' tourist tax on Welsh towns will discourage visitors as well as putting local jobs at risk, councillors have warned. It comes as Angela Rayner, the Deputy Prime Minister, backs proposals to allow councils to charge similar levies to boost their budgets. Wrexham city's head of tourism said the tax would deter those who travel from as far as America and Australia following the success of the Welcome to Wrexham TV series about the town's local football club. Tourism in the city has soared since Hollywood actor Ryan Reynolds' takeover of Wrexham FC in 2020, and a tax on entry would be 'detrimental' to the local economy, the councillor said. Wrexham council's Cllr Nigel Williams said: 'As lead member with responsibility for tourism, I would currently not be in favour of introducing the tax. 'Any decision on tourism tax would need to be taken by the council's executive board, but over the year I've been out speaking with businesses in the hospitality and tourism sector, and currently none of those I've spoken to would welcome the new tax. They feel it would be detrimental to the sector.' Ms Rayner is said to be lobbying Rachel Reeves, the Chancellor, to give councils more of a say in how their budgets are decided, and has previously called for a 'devolution revolution'. Welsh Labour's proposals would impose a £1.30 surcharge per person, meaning a family of four staying in a hotel or Airbnb for a two-week stay would pay £72.80 in tourism tax to the local authority. Visitors staying in caravan sites or hostels would pay a reduced rate of 75p per night – an extra £42 on the family holiday. The earliest the levy – which is expected to raise £33m a year – could be introduced is in 2027. However, it is at the discretion of local authorities whether they choose to implement it or not. Sam Rowlands, the chair of the Senedd's Cross-Party Group on Tourism, said local businesses were 'extremely worried' about the levy. He said: 'I really couldn't believe it when this toxic tax was passed earlier this month, as in this current climate, the last thing we should be doing is discouraging people from visiting North Wales. 'One of the biggest employers in my region is the tourism sector, which supports around 46,000 jobs and, in normal times, generates over £3.5bn annually to the local economy. We should be supporting our hospitality industry – not hindering its growth.' Wrexham's tourism boom It comes as businesses battle a soaring tax burden after the Chancellor's decision to increase employers' National Insurance contributions. Official figures show that since Welcome to Wrexham first aired, North Wales's tourism revenue has risen 20pc year on year and almost 50pc in five years. Internet searches for trips to North Wales have also soared as Wrexham AFC has gone from strength to strength, securing three back-to-back promotions. Last month, more than 300,000 people in the US alone searched for Wrexham content on Reddit. Mark Pritchard, the council leader, said he would not support a tax 'as we want to welcome people to Wrexham without charging them additional taxes on their visit'. He added: 'The current visitor and tourism economy within Wrexham is growing as a result of many factors, including the increased profile we enjoy from the football club as well as ongoing local and multi-agency work promoting Wrexham and Wales as a destination. 'We want to encourage tourists to visit and spend their hard-earned money here. Putting an additional levy or tax on their visit could mean they choose to visit somewhere else and spend their money elsewhere.'
Zawya
16-07-2025
- Business
- Zawya
Kalba's Souq Al Jubail attracts 400,000 visitors in H1 2025
SHARJAH - Souq Al Jubail in Kalba achieved a remarkable milestone by welcoming approximately 400,000 visitors during the first half of 2025. This reflects the market's growing status as a major shopping destination, meeting the needs of residents and visitors of the Eastern Province for high-quality fresh produce. Hilal Al Naqbi, Director of Eastern Province Markets, said that Souq Al Jubail in Kalba has played a prominent role since its opening in stimulating market activity and strengthening the local economy in the Eastern Province, while providing an integrated shopping environment.
News24
14-07-2025
- Business
- News24
UNICEF SA seeks local suppliers: Join our mission
UNICEF South Africa has announced a new initiative aimed at broadening its network of local suppliers. This strategic move is designed to enhance the organisation's ability to address the needs of South African children while simultaneously supporting the local economy. The United Nations Children's Fund (UNICEF) has been a key player in global child welfare efforts for decades. In South Africa, the organization faces unique challenges that require tailored, locally informed solutions. Partnering with South African suppliers allows UNICEF to leverage local expertise and resources to improve its service delivery. The call for suppliers covers a wide range of sectors, including office supplies, IT equipment, educational materials, and emergency relief items. Additionally, UNICEF is seeking providers of specialized services such as research, logistics, and professional consultancy. Economic impact This initiative is expected to have a positive economic impact on South Africa. UNICEF's prioritization of local suppliers will ensure faster response times and more culturally relevant solutions, while simultaneously injecting funds directly into the South African economy. When international organizations like UNICEF partner with local businesses, it can create a ripple effect in the economy, potentially leading to job creation, skill development, and increased economic activity at the grassroots level. How suppliers can contribute Potential suppliers can play a crucial role in UNICEF's mission. From providing essential goods to offering specialized expertise, each contribution supports the organization's efforts to improve children's lives across South Africa. UNICEF emphasizes that suppliers of all sizes are welcome to apply. The organization is particularly interested in innovative solutions that address South Africa's unique challenges in education, health, and child protection. Looking ahead As UNICEF South Africa continues to evolve its approach to child welfare, the role of local suppliers is set to become increasingly important. This partnership between an international organization and local businesses represents a model of sustainable development that could have far-reaching implications. UNICEF South Africa views this initiative not just as a procurement strategy, but as a way to build partnerships that will strengthen its capacity to serve South African children while fostering local economic growth. Interested suppliers can submit their applications through UNICEF's online portal at The organization encourages businesses that share its commitment to children's rights and ethical practices to apply!
Malay Mail
12-07-2025
- Business
- Malay Mail
President Lee urges citizens to dine out to boost South Korea's economy
SEOUL, July 12 — President Lee Jae-myung said Saturday that he hopes citizens would join a move to dine out as part of efforts to boost domestic demand, Yonhap News Agency reported. On Friday, Lee had dinner at a restaurant in central Seoul with his staff in a way to promote dining out to help small-sized brick-and-mortar restaurants and small merchants, overcome a slump amid sluggish domestic demand. 'I personally hope citizens would visit nearby restaurants to promote and cheer on their businesses ... which will in turn revive the local economy and become an impetus for a bright future of South Korea,' Lee said in a social media remarks came as the country will begin distributing cash handouts to all citizens on July 21 as part of a government initiative aimed at stimulating domestic South Korean citizens residing in the country will receive a one-time payment of 150,000 won, depending on their income earlier instructed senior aides to draw up measures to maximise the effects of cash handouts, which is a part of an extra budget as a stimulus package to boost private consumption. — Bernama-Yonhap
The Independent
09-07-2025
- Business
- The Independent
Almost 400 UK pubs set to close in 2025 due to ‘high taxes and business rates'
Almost 400 pubs are set to close in the UK in 2025 — a rate of more than one a day. The British Beer and Pub Association (BBPA) has estimated that 378 pubs will close this year across England, Wales and Scotland, which it said would amount to more than 5,600 direct job losses. And now the government have been urged to reform business rates for the sector. The BBPA said reducing the cumulative tax and regulatory burden would help more pubs stay open, leading to more investment and jobs while also protecting spaces that, for many communities, 'are the only places left to gather'. BBPA chief executive Emma McClarkin said: 'Pubs are trading well but most of the money that goes into the till goes straight back out in bills and taxes. 'For many it's impossible to make a profit which all too often leads to pubs turning off the lights for the last time. 'When a pub closes it puts people out of a job, deprives communities of their heart and soul, and hurts the local economy. 'However, it's not too late to change this sad state of affairs. We know Government recognises the economic and social value of pubs and we're not asking for special treatment, we just want the sector's rich potential unleashed. 'We're calling on Government to proceed with meaningful business rates reform, mitigate these eye-watering new employment and EPR (extended producer responsibility) costs, and cut beer duty.' The projected 2025 figures compare to 350 closures in 2024. The BBPA warned that pub closures will have a further impact on those who are part of the supply chain, including farmers, brewers and other industries. The Labour Government has said it plans to reform the current business rates system, and in March said it will publish an interim report on this during the summer. However, in April's budget, the Government cut a relief on the property tax – that came in following the Covid pandemic – from 75% to 40%, resulting in significantly higher bills for hospitality, retail and leisure businesses. The BPPA has called on the Government to speed up reforms of the commercial property tax to alleviate pressure on pubs. The organisation warned earlier this year that the average price of a pint of beer would surge past £5 for the first time because of the cost hikes hitting the sector. It said the average cost of a pint in the UK was expected to rise by about 21p as a result as pubs are forced to pass some cost inflation onto customers.
