Rising Taxes and Inflation Lead to Closure of 500 British Pubs
More than 500 British pubs closed their doors for the final time last year, adding to the total number of closures since 2017 which reached 3,043. The closures have resulted in the loss of 6,000 jobs.
Pub Chiefs Warn of More Closures
Pub chiefs are warning that more closures are on the way, as landlords struggle to operate on "incredibly narrow margins." Rising prices of raw materials, energy bills, and heavy taxes are being blamed for the plight of the industry.
Call for Business Rate Cut
The British Beer and Pub Association (BBPA) is calling for a significant cut to business rates in the upcoming Spring Budget in March. Their chief executive, Emma McClarkin, emphasizes the importance of preserving pubs as cultural assets at the heart of communities.
Appeal to the Chancellor
McClarkin is urging Chancellor Jeremy Hunt to take action by cutting beer duty, capping the business rates multiplier, and reducing VAT applied to hospitality venues. These measures would provide much-needed relief to struggling pubs.
Did you miss our previous article…
https://hellofaread.com/money/retail-sales-plummet-during-festive-season-worst-performance-in-three-years/
