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ITV News - Pre record interview with business (ideally hospitality) before interest rate announcement at midday

ended 23. March 2023

ITV News would like to speak to a business (ideally hospitality struggling to recruit) today about the interest rate rise (expected) and how it will impact the business and general inflationary pressures.

It would be a pre-record interview. If you're interested can you express your interest in the thread, thanks

2 responses from the Newspage community

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I am interested and happy to do an interview. Thanks Julia
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Unfortunately the news yesterday wasn’t what anybody wanted, we expected inflation to drop and instead it went up.

As a small business in the north, we rely on many suppliers - beyond just typical utilities, wifi, office resources we also have a team of young professionals (most aged 23-28) who are feeling the cost of living rise around them. 

We’re doing our best, we have given 2 rounds of pay rises in the last 12 months alone but obviously that has an impact on our overheads and profitablility as a company and this needs to be passed on to the customer.

It’s making recruitment more challenging also - we’re finding that individuals are seeking much higher salaries than what we would have expected to pay for certain roles compared to 12-18 months ago and this is negatively impacting our longer term business planning.