Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Tom Kerridge leads calls on Jeremy Hunt to act as pubs and restaurants will shut without tax freeze

by November 10, 2023
November 10, 2023
Tom Kerridge leads calls on Jeremy Hunt to act as pubs and restaurants will shut without tax freeze

Tom Kerridge is leading calls from the hospitality industry for Jeremy Hunt to freeze taxes for pubs and restaurants, warning of mass closures without action.

The TV chef and more than 200 of Britain’s most senior hospitality chiefs have signed a letter to the Chancellor warning that businesses will close their doors for good if the Government does not call off a planned rise in business rates next year.

Mr Kerridge, who runs a string of pubs and restaurants across the UK, said: “The hospitality industry has taken a battering in recent years.

“The stark reality for many businesses is that with rising costs and ongoing challenges, time is running out and without further support from the Government they will shut their doors.”

Other signatories of the letter to Mr Hunt include fellow TV chefs Monica Galetti, who is a judge on MasterChef: The Professionals, and Tom Aitkens, a judge on the BBC’s Great British Menu.

The bosses of over 230 hospitality companies including Burger King, Fuller’s, Greene King and Mitchells & Butlers have also put their names to the letter ahead of the Autumn Statement next week.

Retail and hospitality businesses were given up to 75pc rate relief in 2022 to help with inflation. However, that is set to expire next April.

At the same time, business rates are expected to go up in line with September’s rate of inflation next year.

UK Hospitality said the sector would face a rise of almost £1bn if rates rise as planned.

The lobby group has warned that the sector will struggle to cope at a time when inflation means businesses are under immense pressure. The cost of everything from wages to energy and ingredients has soared, while visits to pubs and restaurants have declined as families manage tight budgets.

383 pubs closed in the first half of 2023, according to advisory firm Altus, compared with 386 that closed over the entire of 2022.

Around 8,500 night clubs and late-night bars also shut in the year to September, according to the Night Time Industries Association.

The letter to Mr Hunt warns: “Without action, we will see continued venue closures, job losses and cancelled investment that will harm our high streets and communities in every part of the country.”

Simon Emeny, the chief executive of pub company Fuller’s, told The Telegraph last month that the rate of closures would be “multiplied tenfold” without an extension to rate relief.

Mr Kerridge has previously said there is little money in the hospitality industry and called for the Government to create a minister for hospitality.

He told The Times in September: “Believe me, if there was a lot of money in hospitality you wouldn’t have 8,000 closures this year.”

Read more:
Tom Kerridge leads calls on Jeremy Hunt to act as pubs and restaurants will shut without tax freeze

0
FacebookTwitterGoogle +Pinterest
previous post
Natwest clears former chief Alison Rose of misconduct in Farage debanking row
next post
Three Things You Ought to Know about Direct Burials

You may also like

McDonald’s global sales drop for the first time...

July 30, 2024

Young Volunteer Turned Entrepreneur Gives Away £10M of...

July 24, 2023

UK’s entrepreneurial ambitions stronger than ever as small...

June 9, 2023

Cost of living is biggest risk to world...

January 12, 2023

Billionaires should face a minimum tax rate, report...

October 23, 2023

The art of leadership in business

February 7, 2024

Overcast HQ raises $1.2 million bridging round led...

June 3, 2024

Lawyers Admit to Overbilling Clients in Anonymous Poll

April 11, 2024

Lobby groups Make UK and CBI in possible...

September 8, 2023

Sir Charles Dunstone injects £65m to save TalkTalk...

August 13, 2024

McDonald’s global sales drop for the first time...

July 30, 2024

Young Volunteer Turned Entrepreneur Gives Away £10M of...

July 24, 2023

UK’s entrepreneurial ambitions stronger than ever as small...

June 9, 2023

Cost of living is biggest risk to world...

January 12, 2023

Billionaires should face a minimum tax rate, report...

October 23, 2023

The art of leadership in business

February 7, 2024

Overcast HQ raises $1.2 million bridging round led...

June 3, 2024

Lawyers Admit to Overbilling Clients in Anonymous Poll

April 11, 2024

Lobby groups Make UK and CBI in possible...

September 8, 2023

Sir Charles Dunstone injects £65m to save TalkTalk...

August 13, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • David Gergen, trusted White House advisor to 4 US presidents across decades, dies at 83

      July 11, 2025
    • 3 Stocks Seasoned Investors Should Watch

      July 11, 2025
    • What Happens Next for the S&P 500? Pick Your Path!

      July 11, 2025
    • The First Amendment Protects Ideologically Based Ad Boycotts

      July 11, 2025
    • Who is Ashley Williams, the longtime Biden aide grilled by House GOP investigators Friday?

      July 11, 2025
    • A Dash for Cash: What to Do About Crowdfunding?

      July 11, 2025

    Categories

    • Business (8,454)
    • Investing (2,118)
    • Politics (16,010)
    • Stocks (3,204)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved