Mia reacts to Prime Minister’s Spring Statement 2025

The Conference Industry Association (MIA) responded to the Prime Minister’s Spring Statement on Treasury 2025, which was filed yesterday in the House of Commons.

MIA CEO Shonali Devereaux said in the following fields:

Economic growth

“While yesterday’s statements have few statements for specific industries such as events, the Office of Budget Responsibility decided to reduce the UK’s 2025 growth forecast from 2% to 1%, highlighting the urgent need for the government to recognize the role of events in stimulating economic growth.

“As an industry in the white record industry, business meetings and events generate not only direct revenue, but are the foundation for growth in multiple industries from pharmaceuticals and technology to automotive, finance and beyond. Each conference, exhibition, exhibition and conference has a wider range of business events that attract introverted investment, inspire innovation and support employment opportunities.

“To stimulate economic growth in the UK, policy makers must recognize and support the important role of the event industry, often invisible industry, as a catalyst for business, trade and inward investment. While playing this role, business meetings and events directly contribute to the UK economy of £16.3 billion, so the UK’s power is £6.16 billion in the event industry, which must continue to be good.”

Employer’s national insurance contributions

“The industry has been struggling to tackle serious recruitment and retention challenges since the fall budget announced it would increase its employer national insurance contributions from 13.8% to 15% (effective next week). Our recent study found that two-thirds of the industry are working to fill roles.

“While we recognize that many industries are facing cost pressures, the business meetings and event sectors have been greatly affected by the reliance on a flexible workforce, including part-time and temporary employees, to meet the needs of volatile events. Higher employment costs may allow businesses to maintain these important roles in a single job when the short-term challenges of employees are already a major challenge.

“At the same time, rising costs may limit the ability of organizations to provide competitiveness, making it more difficult to retain experienced professionals. Without intervention, we may lose more skilled workers during the pandemic while reducing the department’s appeal to the next generation of careers.”

“As we continue to have ongoing discussions with the government, we remain committed to coming up with innovative solutions that support our sector, including employment allowances for specific sectors. This week, we will write directly to members of Congress to ensure our sector has voice in decisions that impact our operations. Insights.”

Members of Congress and industry cooperation

“The recent Parliamentary Exhibition, hosted by Ukevents, provides an outrageous platform for event industry representatives to show MPs the impact and value of our business on the UK economy. Our discussion highlights the need for local participation to extend our dialogue to the exchanges between the Department of Digital, Culture, Media and Sports, as well as the business and trade sectors.

“Recognising this, we will soon be launching a collaborative initiative with UKEVENTS, The Business of Events, Beam, ABPCO and other like-minded member organizations within the industry to put events on the agenda across all 650 UK constitutions. By using a collective voice – the voice of our organizations and our members – we are confident that we can demonstrate the vital role events play in driving economic growth, job creation and community development, ensuring that policymakers across all. ”