Pubs and restaurants warn they will cut jobs and hike prices unless Rachel Reeves eases taxes in next week’s Budget.
The sector has been hammered since last year’s Budget raised National Insurance (NI) and the minimum wage.
A survey by UK Hospitality and other trade bodies found nearly six in ten firms will slash staff or increase prices without urgent help.
The groups said: ‘The situation facing our local pubs, neighbourhood restaurants and other hospitality venues is becoming increasingly perilous.’
They want cuts to business rates and VAT, plus changes to NI to protect pubs and restaurants that support jobs.
Simon Emeny, executive chairman of pub chain Fuller, Smith & Turner, this weekend warned that higher costs have seen businesses taking ‘evasive actions to maintain some semblance of profitability’.
Jobs threat: The hospitality industry has been hit hard since the Chancellor raised NI contributions paid by business and hiked the minimum wage in the Budget last year
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
Freetrade
Freetrade
Investing Isa now free on basic plan
Trading 212
Trading 212
Free share dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
