The Cost of Living Crisis
An ATCM Update
Multiple challenges and inflationary pressures have culminated in an intolerable economic situation for many town centre businesses. This is causing varying degrees of problems across the UK and Ireland with extreme concern for the UK particularly.
Without urgent and comprehensive intervention from government and the place management community many businesses face a winter where their survival may be impossible. ATCM expects further steep rises in operating costs and, for those in sectors like leisure and hospitality, a collapse in income. This problem has not emerged out of the blue. It was identified in a session of High Street Conversations earlier this year and appears to be escalating.
ATCM will respond.
What We Are Doing
Setup a free Basecamp support group allowing place management practitioners to receive real-time information and extensive support, similar to what we did during the pandemic. To apply to access this group, click here.
Tasked our Advocacy and Accreditation Assistant with reviewing government announcements and latest news to provide critical information via Basecamp.
Proposed an emergency meeting of the All-Party Parliamentary Group for Town Centres to take place as soon as a new UK Prime Minister takes the reigns in order to highlight key concerns to parliament.
Themed the next meeting of the High Streets Task Force Sector Leaders Group around the Cost-of-Living Crisis with the purpose of developing a joint letter from key trade associations to influence a possible Emergency Budget.
Identify key issues, challenges and solutions to the crisis. Most importantly is identifying the secondary problems which are part of the fallout from a cost of living crisis and ensuring members and key stakeholders can mitigate these.
Develop a template letter which practitioners can use with their elected members highlighting the consequences of the Cost-of-Living Crisis on the high street to drive political awareness on the comprehensive action needed ahead of an Emergency Budget.
Work with key partners to develop recommendations that will support the survival of high street businesses.
We urge our members to get in touch and inform us of the challenges their high street is facing as a consequence of the cost of living crisis.