Wednesday afternoon’s budget statement from the Chancellor, Jeremy Hunt, delivered little for pubs, despite the BII’s calls for a reduction in VAT for our essential pubs at the heart of their communities.
The Chancellor again referenced the Great British Pub when he announced a freeze to alcohol duty until February 2025.
Steve Alton, BII CEO commented:
“The Spring Budget statement this afternoon delivered no support for independent pub businesses in every village, town and high street across the UK. The freeze on duty until February next year will not help pubs, who have been facing huge inflation in every area of their business, high energy costs, wage rises and reduced footfall from consumers facing their own cost of living crisis.
“Our members and the wider hospitality industry are in urgent need of meaningful investment to allow them to thrive as essential hubs of their communities, delivering vital social connection, all whilst supporting local employment and local supply chains. This Budget simply did not deliver to safeguard incredibly successful operators, who are struggling with profitability, whilst being unfairly and disproportionately taxed.”