Martin Lewis interviews Jeremy Hunt on economic plan

       Jeremy Hunt has been warned that a British institution will be closing its doors for good unless he takes drastic action in the Budget on March 6. The British pub, which has been described as the cvornerstone of many communities, is in peril because of inflation in energy, food and drink costs.

       And according to the British Beer and Pub Association (BBPA) the "golden month" of December with Christmas parties and festive celebrations has not been enough to prevent a massive crisis in the industry with average energy costs now hitting ￡40,000 a year.

       The Chancellor himself campaigned for pubs before entering the treasury with a page on his website still pushing the need to help them out.

       On it he acknowledges: "Pubs play a crucial role in the social and economic life of our nation, as well in helping to promote responsible drinking, which is why the support which the Government has made available to pubs is encouraging."

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       Boris Johnson campaigned with Wetherspoons pub chain owner Sir Tim Martin (Image: Getty)

       But now as Chancellor he is being asked to stanfd by his previous sentiments and bring in support to ensure the Briish boozer is not confined to history.

       A survey by the BBPA has found that energy wholesale prices for pubs remain at circa ￡40,000 for a typical pub, double what they stood at during the pre-Covid period.

       Member surveys from the BBPA reveal "eye watering" energy costs to be the prime source of worry for publicans and the top reason cited for pub closures.

       Despite the continued (and vital) rates relief for smaller outlets from April, many pubs face the prospect of higher business rates with a 6.7 percent increase in the main rates multiplier.

       Food and drink inflation continues apace around 2.5 times the general inflation figure.

       Higher than expected increase in the National Living Wage is also placing a strain on what had been budgetary assumptions.

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       Jeremy Hunt is under pressure to find a number of tax cuts (Image: Getty)

       In the first week of 2024 there have seen a number of well known, popular hospitality venues close; all citing the same reasons, that their businesses are no longer viable in the current economic climate.

       This includes the announcement by Revolution pub and bar group at the start of the year that it is closing around 10 percent of its sites.

       Emma McClarkin, Chief Executive of the British Beer and Pub Association said: “We are currently facing a whirlwind of challenges not faced by our industry in decades. We are already hearing announcement of pub and other hospitality closures around the country in just the first week of 2024.

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       “With January and February being slow trading months for many sectors, including the beer and pub sector, we need policy makers to recognise the severe constraints under which the sector operates.

       “Pubs are an economic force multiplier in local economies, after all a thriving High Street is anchored by a thriving pub and with the Prime Minister saying he has room for tax cuts in his upcoming budget, now is the time to cut beer duty, cap business rates and reduce the VAT on non-alcoholic drinks and food.

       "A Spring Budget that supports breweries and local pubs will go a long way in stimulating growth and prosperity in towns and villages across the UK and providing employment and delivering social value to our communities.”

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