Coin-op amusements news | Association deplores lack of help for arcades

While welcoming some of the financial relief given to the UK hospitality industry in general in the chancellor’s budget speech at the House of Commons, there are factors within it that have disappointed the amusement industry.

Chancellor Rishi Sunak released his financial and taxation plans for the country in the House of Commons yesterday, with post-pandemic relief in many quarters.

The general provisions are outlined in our separate report for the casinos sector today, but additionally there was scathing condemnation by the amusement industry trade association, BACTA, for other failings.

CEO John White (pictured) welcomed the extension of some of the general taxation relief plans for the hospitality and non-essential retail sectors, into which many of his members fall, but was disappointed by other elements of the budget.

“We are deeply frustrated that the chancellor did not take the opportunity to include seaside amusement arcades in his five per cent VAT (value added tax) relief. He was also totally silent on support for supply chains.

“That is a huge oversight and jeopardises the recovery. For companies badly affected by the 25 per cent Corporation Tax rate from April 2023, for businesses with profits of over £25,000 it is a kick in the teeth. New loans are just adding more debt to already distressed companies. We have written to the chancellor to make these points very forcibly.”