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The National (Scotland)
The National (Scotland)
National
Hamish Morrison

'Final straw' warning for struggling hospitality sector as recession threat looms

Recession Economy SLTA Interest Rates United Kingdom Bank of England
'Final straw' warning for struggling hospitality sector as recession threat looms

SOARING interest rates could be the “final straw” for struggling hospitality businesses, industry leaders have warned as the UK economy faces a predicted recession.

The Bank of England on Thursday raise interest rates to 1.75% - their highest levels since 2009 – as inflation is now forecast to reach 13%.

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