Thursday, January 17, 2019
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Tag: Economy

Britain’s seaside a “two-speed” economy, claims Lord Bassam

Britain, seaside, economy, Lord Bassam, bacta
Coastal regeneration might well be a “complex” issue, but Lord Bassam of Brighton pledged to BACTA members that the House of Lords’ commission on the subject “wouldn’t duck the tough questions”. By his own admission shadow chief whip of the House of Lords, Baron Steve Bassam of Brighton, hadn’t even heard of Bacta until earlier this year - when his...

Llandudno Pier maintains growth momentum, but will town plans stall its economic boost?

Llandudno Pier, growth, economic boost, economy
The news was unveiled a few weeks ago, but the achievement is still making its mark. For two years, Llandudno Pier has established itself as an integral part of the economic framework of Wales. How have operators Tir Prince done it? The operator of Llandudno Pier, Tir Prince, has been named among the fastest-growing companies in North Wales for the...

Rank Group trading update shows little sign of landed recovery

Rank trading, economy, financial, mecca bingo
Another muted set of numbers from the Rank Group has seen the value of the company’s stock slide - but its landed division may still hold the key to success online. A trading update from the Rank Group had investors less than enthused last week, with numbers for the past 16 weeks detailing a 5 per cent drop in like-for-like...

Plans to boost Blackpool economy by £1bn unveiled

Blackpool, tourism, economy, Blackpool Pride of Place Partnerhip, Merlin Entertainment
A local partnership of the public and private sectors is hoping to secure government funding to help Blackpool return to its heyday as the country’s most popular seaside destination. A plan to restore Blackpool to its tourist heyday and boost its economy by £1bn over the next decade have been unveiled. Published by the Blackpool Pride of Place Partnerhip, the masterplan...

Night-time economy essential to reversing UK’s high-street decline, say councils

Night time economy
A new study has found widespread support among local authorities for the development and support of Britain’s night-time economy. The vast majority of local councils believe that the night-time economy, including pubs and clubs, could be the key to preventing wider high-street decline. A new study conducted by think-tank the Local Government Information Unit (LGIU) and brewing trade association. The Portman...

Firms appointed to drive masterplan for Skegness foreshore

An economic development company and an architects’ firm have been appointed to draw up ideas to improve the foreshore at Skegness. The Lincolnshire seaside resort’s foreshore is now classed as Grade II-listed and East Lindsey District Council has partnered with the two companies to help realise the masterplan it announced back in February. The seafront zone has huge importance to Skegness’s...

Cash machines closing up at alarming rate, says regulator

Cash machine
An increasingly cashless economy is to blame for ATM closures, but there’s still no sign of cashless payment for UK arcades. Free-to-use cash-machines are disappearing at a rate of 250 per month, according to national network co-ordinator Link. At present there are over 53,000 ATMs across the length and breadth of the country, down from 54,500 at the beginning of the...

Temperatures boost UK economy for Q2

Weather sun beach
Warm temperatures and the celebratory mood created by England’s performance in the World Cup were both contributing factors to a 0.4 per cent growth in the UK economy throughout the three months ending June 30, according to the latest estimates from the Office of National Statistics (ONS). Their latest data suggests that the weather-dependent construction sector enjoyed the largest gains,...

UK tourism growing strongly, but must be safeguarded

Gloria Guevara
Speaking at the launch of a new report by the World Travel & Tourism Council (WTTC) in New York, president & CEO Gloria Guevara explained that the sector cannot be taken for granted as Britain leaves the EU. Travel and tourism grew by over four times the rate of the wider UK economy in 2017, according to a new report...

NCTA partners with Hertz to boost coastal tourism

The National Coastal Tourism Academy (NCTA) has announced a long-term partnership agreement with global car rental company Hertz to support its remit to help drive economic growth around UK coastal resorts.   The first result of the new partnership has been a study that examines the perceptions of people who do not go to the coast. The NCTA said the research provided...

Corbyn pledges business boost for Blackpool

During a visit to the Fylde coast, Jeremy Corbyn announced plans for wholesale investment in Blackpool should Labour get to power, highlighting the importance of the leisure market.   The leader of the opposition noted that a lack of investment arising from Conservative austerity politics had taken their toll on the coastal resort, but was full of praise for the good...

Bacta press home calls for progressive review to enhance economy

Coinslot - John White review
Bacta chief executive John White has reassured members that contrary to recent speculation, the review of FOBT stakes has not been shelved and is encouraging chancellor Philip Hammond to take a holistic view of the broad and powerful economic benefits contained within the association’s triennial submission.   Commenting on last week's story which appeared in the Daily Mail, White said: “I...

Report: Pubs contribute £23bn to UK economy

A report published by Oxford Economics has found that the beer and pub industry in Britain is a major contributor to the British economy. With employment in the sector rising, thanks to serial beer duty cuts of late, the question is: how will the pub industry sustain this going into Brexit Britain without further tax concessions? A new report by...

Isle of Wight to receive extra government support

Coinslot Isle of Wight
The Isle of Wight, and other coastal communities, will receive £90 million to help overcome specific challenges hindering their economic growth. Andrew Turner, Isle of Wight MP, said: “Coastal areas face specific challenges because they do not have 360 degree access to trade with neighbouring areas, and the Isle of Wight faces additional challenges because we have no physical link...

Weak pound sees export boost for machine suppliers

Coinslot Weak Pound economic
Comparatively slow economic growth in the EU combined with a strong demand for British goods and services elsewhere in the world means that the UK’s biggest trading partner is declining in importance while UK exports benefit from the weak pound. Since Britain’s vote to leave the EU in June’s referendum, sterling has taken a battering against the US dollar with...

Manufacturing could be set for a budget boost

Coinslot Philip Hammond economy budget
Speculation is growing that recently appointed chancellor of the exchequer, Phillip Hammond, will unveil a major boost for British manufacturers during his upcoming Autumn Statement. Due to be announced on 26 November, Hammond’s first budget since being appointed to Theresa May’s cabinet is rumoured to include major investment in transport and manufacturing - two vital components of the coin-op economy....

Government still hasn’t tapped Chinese tourism opportunities

Coinslot China Tourism
Chinese tourism could be the shape of things to come for Britain’s visitor economy, despite fears of a slowdown, the country’s economy is still growing with 120 million Chinese people travelling abroad last year. Chinese tourists are now the world’s biggest holiday spenders, yet the UK has still not reaped the full benefit of the growth in Chinese outbound travel...