Sacha Lord fears entertainment venues could close ‘at faster rate than in pandemic’ following autumn budget
Greater Manchester’s night-time economy adviser fears venues could close “at a faster rate than during the pandemic” following the Chancellor’s autumn statement. Sacha Lord warned a reduction in consumer spending would create a “severe contraction in the sector,” in what he described as “a very sad state of affairs”.
The OBR forecasts the UK’s inflation rate to be 9.1 percent this year and 7.4 percent next year, with living standards expected to reduce by 7 percent over the two financial years to 2023/24. It also warns more than half a million people would lose their jobs. Mr Lord fears soaring costs and reductions in the public’s disposable income will lead to venues closing faster than they did during the Covid-19 pandemic, as people are forced to cut back on spending. He tweeted: “Operators are being squeezed beyond their ability, and I fear we will now see huge cuts in staffing, reductions in opening hours and venues closing at a faster rate faster than seen during the pandemic.
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