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A report finds ever-higher costs, restrictive regulations, and broader political mismanagement, the night-time economy is struggling to recover post-Covid, and many establishments closing their doors for good.
The report authors said:
"In recognition of this fact, national and local policymakers should implement a series of liberalising measures designed to lift the burden on the capital’s night-time economy, and to offer a much-needed lifeline to the UK hospitality industry more broadly."
The report recommend the following policies:
1. Reduce costs for the hospitality sector by slashing beer duty, cutting VAT, and intervening to get rid of local alcohol levies.
2. Reform our planning and licensing regime to give hospitality venues more control over what services they can offer and when, taking power away from a vocal minority of NIMBYs.
3. Improve transport provision in the capital, through the expansion of the Night Tube, intervention to stop the harmful ‘taxi tax’, and greater police presence around major transport infrastructure.
"On the one hand, these changes would make it cheaper and easier for consumers to enjoy London’s nightlife offering; on the other, it would also reduce costs and regulatory burdens for businesses, helping to keep struggling establishments afloat and stimulating a sector-wide recovery."