• ℹ️ Heads up...

    This is a popular topic that is fast moving Guest - before posting, please ensure that you check out the first post in the topic for a quick reminder of guidelines, and importantly a summary of the known facts and information so far. Thanks.

Universal GB - Archived Pre Announcement Discussion

Status
This topic has been locked. No further replies can be posted.
Going back to the previous topic of tax incentives for Universal; perhaps reintroducing the reduced 5% VAT rate for the leisure and hospitality sectors that was in place during COVID would be a good incentive that still encourages competition?

I don’t know how much this would cost the treasury versus how much it would bring in in additional leisure spend, but it would certainly be an incentive for Universal while also being appreciated industry-wide.
 
Matt N said:
Going back to the previous topic of tax incentives for Universal; perhaps reintroducing the reduced 5% VAT rate for the leisure and hospitality sectors that was in place during COVID would be a good incentive that still encourages competition?

I don’t know how much this would cost the treasury versus how much it would bring in in additional leisure spend, but it would certainly be an incentive for Universal while also being appreciated industry-wide.
Click to expand...
It would cost the Treasury several billion pounds a year in "lost revenue", but I don't have an exact figure. It would be far more beneficial long term than spending the £300 million figure, floating in the Express article, on a single operator. Fewer operations would close, our existing leisure / hospitality operators would have more cash to invest in their operations, which in turn drives further employment and the treasury recoups the cost in other ways. It would also act as a huge incentive for any new player who wanted to enter the market, from a small local business, to a corporate behemoth.

Specific to the Universal proposal, it's more beneficial for the park in the long run to only be paying a 5% VAT rate vs not having to pay for infrastructure connections themselves. If it turns out that the Universal "deal" leads to an industry cut on the VAT rate, and no additional specific and direct financial support for their project alone, I'd be all for it.
GooseOnTheLoose said:
If this is truly about increasing tourism spend in this country, and supporting competition between private enterprise, the government would be in a far better position cutting the VAT rate for hospitality, holiday accommodations and attractions. This would promote spending across the market, far in excess of what one singular project could generate alone, and would spread it among all players.

You'd be supporting large players like Merlin, Blackpool or Looping, but also your local pubs, restaurants and theatres. The cut would also benefit Universal, if they wanted to play here, and would likely balance out the need to build their infrastructure support for them.

It's not without precedent, with VAT being decreased to as low as 5% during COVID, before being increased back to 20% in 2022.
Click to expand...
 
Coming back to govt-funded infrastructure improvements they are not necessarily a bad thing as long as economic benefits can be opened up. Some recent ones -

M1 J45
M55 J2
Almost everything to do with the Gravity campus in Somerset (I think there's plans for a J22A M5 purely to service this place and several million was already spent on the A39 to get/improve access)

National Highways' delivery plan runs to 2025 so they will really be the ones to watch for the 2026-2030 delivery period to see what is being planned.
 
GooseOnTheLoose said:
It's a generic corporate position, with oversight for "all major capital projects that are managed by Universal Creative". Whilst this would eventually include the proposed UK development, if it goes ahead, it's not limited to or specific to it.

The individual will be responsible for estimating all major capital projects worldwide.

From the job description:

The reason why no specific expat location is given, is because this position will be throughout the whole group.
Click to expand...
I get what you’re saying but 9 roles have so far being posted, no location has been provide but the job will be overseas either fully or partially as they’re listed as expat jobs.

All other expat jobs have a location provided.

Seems to me that these are being posted in order to get ahead of the recruitment process before the green light is given and then the location will be provided.

On one of the listings it states the scale of the projects is $1-2 billion dollars for international theme park development. Sure this could be for any of their overseas parks but why not list the location like they have with other job listings.

I dunno, seems strange to have multiple go up at the same time.

This for example say expat Singapore.

jobs.universalparks.com

Sr. Director, Projects – Expat Singapore – Universal Creative – 614665 -

Search jobs at Universal Parks & Resorts, Universal Orlando, Universal Studios Hollywood, or Universal Creative. Apply today!
jobs.universalparks.com jobs.universalparks.com

This says domestic and Japan.

jobs.universalparks.com

System Integration – ATI/R&D (All Levels – Domestic and International Opportunities) – Universal Creative – 581024 -

Search jobs at Universal Parks & Resorts, Universal Orlando, Universal Studios Hollywood, or Universal Creative. Apply today!
jobs.universalparks.com jobs.universalparks.com

Seems odd that so many aren’t technically open but looking for people whilst also being nameless when it comes to the location.
 
Blackrock said:
but why not list the location like they have with other job listings.
Click to expand...
Because the position will cover multiple locations, unlike the other jobs. This is a wider recruitment drive within the company, likely a new worldwide oversight group. If the UK project goes ahead, then it would be covered by the scope of the role, but it's not specific to it.
 
Anyone think we may hear something either in or post budget tomorrow? Apparently Thier website has been updated but changes are not live yet
 
Relife said:
Anyone think we may hear something either in or post budget tomorrow? Apparently Thier website has been updated but changes are not live yet
Click to expand...
No. There are far more pressing items of concern which need addressing, in the new government's first budget, than whether a multi-billion pound corporation needs state aid to build a theme park.

In the unlikely event that some form of support was announced, in a budget which has been briefed as being a painful sacrifice for all, I'd wager that would kill any wider public, press and parliamentary support for the proposal.
 
GooseOnTheLoose said:
No. There are far more pressing items of concern which need addressing, in the new government's first budget, than whether a multi-billion pound corporation needs state aid to build a theme park.

In the unlikely event that some form of support was announced, in a budget which has been briefed as being a painful sacrifice for all, I'd wager that would kill any wider public, press and parliamentary support for the proposal.
Click to expand...
I kind of disagree on this point - the offering of tax breaks for projects like this (in exchange for Universal offering up capital for infrastructure improvements) actually serves to benefit the public at large. You have to remember, Labour are the biggest fans of private finance schemes and since they’ve got in it’s been their biggest push - see also HS2 2a which is looking increasingly more likely to be back on albeit with private funding.

If they get Universal to contribute a healthy amount to the East West Rail Bedford to Cambridge scheme (since it directly impacts them), I think it’s a good incentive.
 
Leigh said:
I kind of disagree on this point - the offering of tax breaks for projects like this (in exchange for Universal offering up capital for infrastructure improvements) actually serves to benefit the public at large. You have to remember, Labour are the biggest fans of private finance schemes and since they’ve got in it’s been their biggest push - see also HS2 2a which is looking increasingly more likely to be back on albeit with private funding.

If they get Universal to contribute a healthy amount to the East West Rail Bedford to Cambridge scheme (since it directly impacts them), I think it’s a good incentive.
Click to expand...
The actual economics are irrelevant, it oughtn't be announced in the budget because of optics.

Announcing subsidies for theme park construction while simultaneously increasing the cap on bus fares, raising employer National Insurance contributions, scrapping the Winter Fuel Allowance, implementing VAT on private schools (which I personally support), scaling back right-to-buy, extending the freeze on income tax thresholds (fiscal drag), and increasing fuel duty, capital gains tax, and introducing a tax on e-cigarettes would be disastrous from a PR perspective.

Aside from all of this, I still don't think there's been enough time for discussions to have finished.
 
GooseOnTheLoose said:
No. There are far more pressing items of concern which need addressing, in the new government's first budget, than whether a multi-billion pound corporation needs state aid to build a theme park.

In the unlikely event that some form of support was announced, in a budget which has been briefed as being a painful sacrifice for all, I'd wager that would kill any wider public, press and parliamentary support for the proposal.
Click to expand...
Tax breaks are announced at every budget though.

The past couple of budgets have had news regarding tax breaks for the film/tv industry.
 
Blackrock said:
Tax breaks are announced at every budget though.

The past couple of budgets have had news regarding tax breaks for the film/tv industry.
Click to expand...
Tax breaks are different from a promise to build expensive dedicated infrastructure, exclusively for the benefit of a theme park.

There's been absolutely no prior briefing about tax breaks for the leisure industry as a whole, and it's illegal under our tax system to give preferential tax treatment to a singular company.

If it were likely to happen, it would have been teased and briefed out before hand.

Additionally the news cycle tomorrow, and until the weekend, will be dominated by how the budget will effect the individual. If you're going to make a big policy announcement, or want to make a song and dance about a large capital investment from an international conglomerate, you wouldn't do it the same time as the budget. It'll be drowned out.
 
Relife said:
Anyone think we may hear something either in or post budget tomorrow? Apparently Thier website has been updated but changes are not live yet
Click to expand...
I certainly hope not! Can you imagine Thursdays newspaper headlines if this was the case?

LABOUR TAX YOU TO GIVE CORPORATIONS HUGE BUNGS

Evil Labour Chancellor, Rachel Reeves, raised taxes on job and wealth creators yesterday, whilst announcing large tax reliefs for a major US corporation. Universal, owned by Comcast, were given £Billions in tax incentives to build a theme park, whilst the chancellor raided middle class and employer bank accounts, and millions of pensioners are set to become solid blocks of ice by the spring.

UK headquartered Merlin Entertainments, currently the largest theme park operator in the country, have received no such tax relief themselves, and have announced planned job losses. A Merlin insider said "The government has broken the law and is engaged in anti-competitive practices to appease theme park enthusiasts on online forums. Whilst we mount a legal challenge, we have no option but to remove even more attractions at our theme parks, and remove more beef from our burgers to cut costs."

Two-Tier Kier didn't even raise an eyebrow over his freebie glasses whilst his Woke chancellor made the announcement in the House of Commons.

Ken, 71, from Kent said "It's disgusting. The extra capital gains tax I have to pay on selling my 3 buy-to-let homes means I'll probably have to downgrade from shopping in M&S for Waitrose in the future. I've worked all my life, and this is the thanks I get. Young people jobs operating roller coasters isn't my problem. They've already taken my winter fuel payment away. What if my wife Karen gets chilly? A 4-bed detached costs a lot to heat you know. It's OK for Reeves and Starmer, they probably have free Taylor Swift T-Shirts on under their shirts. They should stop giving those immigrants mansions and every benefit under the sun instead. Charity begins at home".

It is rumoured that after the budget, Starmer and Reeves had a slap up meal with Comcast executives, and afterwards engaged in satanic rituals involving evil laughs whilst drowning kittens and puppies in buckets of water.
 
Matt.GC said:
I certainly hope not! Can you imagine Thursdays newspaper headlines if this was the case?

LABOUR TAX YOU TO GIVE CORPORATIONS HUGE BUNGS

Evil Labour Chancellor, Rachel Reeves, raised taxes on job and wealth creators yesterday, whilst announcing large tax reliefs for a major US corporation. Universal, owned by Comcast, were given £Billions in tax incentives to build a theme park, whilst the chancellor raided middle class and employer bank accounts, and millions of pensioners are set to become solid blocks of ice by the spring.

UK headquartered Merlin Entertainments, currently the largest theme park operator in the country, have received no such tax relief themselves, and have announced planned job losses. A Merlin insider said "The government has broken the law and is engaged in anti-competitive practices to appease theme park enthusiasts on online forums. Whilst we mount a legal challenge, we have no option but to remove even more attractions at our theme parks, and remove more beef from our burgers to cut costs."

Two-Tier Kier didn't even raise an eyebrow over his freebie glasses whilst his Woke chancellor made the announcement in the House of Commons.

Ken, 71, from Kent said "It's disgusting. The extra capital gains tax I have to pay on selling my 3 buy-to-let homes means I'll probably have to downgrade from shopping in M&S for Waitrose in the future. I've worked all my life, and this is the thanks I get. Young people jobs operating roller coasters isn't my problem. They've already taken my winter fuel payment away. What if my wife Karen gets chilly? A 4-bed detached costs a lot to heat you know. It's OK for Reeves and Starmer, they probably have free Taylor Swift T-Shirts on under their shirts. They should stop giving those immigrants mansions and every benefit under the sun instead. Charity begins at home".

It is rumoured that after the budget, Starmer and Reeves had a slap up meal with Comcast executives, and afterwards engaged in satanic rituals involving evil laughs whilst drowning kittens and puppies in buckets of water.
Click to expand...
When did you get a job at the Daily Mail? 😂
 
Status
This topic has been locked. No further replies can be posted.
Top