More than 2,000 hospitality venues are set to shut down this year if Labour doesn’t reverse its business rates changes, according to analysis by trade body UK Hospitality. Still waiting on Labour to officially announce a U-turn on pubs’ business rates while shafting everyone else…
The body forecasts that 540 pubs, 963 restaurants, and 574 hotels will close down thanks to changes in Reeves’ Winter Budget. Kate Nicholls of UK Hospitality said:
“Thousands of venues, particularly neighbourhood restaurants and local hotels, will be forced to close for good as a result of the significant rates rises they’re facing. This is yet another blow to a hospitality sector that bears the highest tax burden in the economy, and has already been disproportionately burdened by increases to NICs, wages, energy and other inputs.”
At least you can still drive to your friend’s house for a few store-bought bottles of plonk – oh wait…
