'This catastrophic Budget will mean higher pub prices'

Published On Oct 31, 2024, 7:43 AM

Chancellor Rachel Reeves' recent budget announcement has caused significant concern within the pub and hospitality industry. Increases in National Insurance rates, minimum wage, and business rates are projected to lead to higher prices, with pub owners warning that the cost of a pint could rise by 30 to 40p. Many businesses are facing increased financial pressure, with some indicating potential job cuts and reduced working hours to offset rising costs. The overall sentiment suggests that the budget could hurt profitability and consumer spending in the hospitality sector.