Home Business NewsBusiness Chairman of Wetherspoons hits out at Hammond’s Budget

Chairman of Wetherspoons hits out at Hammond’s Budget

by LLB Reporter
10th Mar 17 10:18 am

What did he have to say?

The chairman of Wetherspoons has hit out at the Chancellor for a “dinner party” Budget which has failed to tackle tax inequalities.

Tim Martin spoke of how pubs pay 20 per cent VAT on food sales, whilst supermarkets paid “almost nothing”.

He also said that the firm’s business rate bill will rise by £7m this year.

He stated that electricity will cost the company £4m, excise duty £7m and the apprenticeship levy will come with a price tag of £2m.

Martin said:”In effect, this was a Budget for dinner parties, no doubt the preference of the Chancellor and his predecessor – dinner parties will suffer far less from the taxes outlined above, whereas many people prefer to go to pubs, given the choice.”

Martin spoke of how he understood the need to raise taxes but also said there “should be a sensible rebalancing of the taxes paid by pubs and supermarkets, if the pub industry is to survive in the long term”.

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