AIF Comment on today’s Mini Budget announcement
Today’s announcement from the Chancellor means very little for our £1.75bn UK festival industry. We’ve faced unprecedented challenges on increased costs, supply chain and low consumer confidence, with audiences facing a social emergency. This shows no sign of relenting as we look to 2023. What we need is an urgent reduction of VAT on tickets to 5% and an assurance that festival businesses will be classed as vulnerable and eligible for support on the energy crisis beyond March 2023.