Brexit driven inflation and hike in business rates spell disaster for pub trade
AWP operators and other sections of the UK amusements industry, could be hit by the escalating cost of drinking in UK pubs. According to Kate Nicholls of the Association of Licensed Multiple Retailers, the perfect storm of inflation and rising business rates could add an extra 30p to the cost of a pint.
Industry experts say such a rise would push the average price of a pint to £3.98, a development which would significantly impact footfall and the numbers playing pub gaming and entertainment equipment.
With rising inflation a structural issue exacerbated by the value of the pound and the cost of imports, the pub and hospitality industry is looking to the government to intervene. Kate Nicholls stated: “Untimely and crippling increases to business rates are threatening to squeeze the life out of many pubs.
Ours is the only sector which is facing across the country increases from April. It’s well past time that the Government took action to ensure that businesses remain competitive.
Reports suggest that pub operators, including Greene King, Fuller’s and Mitchells & Butlers, have told the Government they will have no choice but to increase prices if they are not shielded from the increase in costs.