Tuesday, November 5, 2024

Price of a pint to rise despite draught tax cut, says Timothy Taylor’s boss

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Mr Dewey’s comments have been echoed by other brewers, such as Simon Webster, co-founder and chief executive of Derbyshire’s Thornbridge Brewery, who branded the suggestion of a 1p saving on a pint “ludicrous”.

He said: “It’s the latest blow for the industry to be honest – hospitality has really been hit with these new rises. We will have no choice but to put the price of a pint up in the pubs and also out of the brewery.”

Jack Hobday, co-founder of craft brewer Anspach & Hobday, added: “Fundamentally, if a brewery cannot afford this NI, it will have to come in from price rises. If those aren’t feasible, then many will either be pushed into a loss or have to make redundancies.

“In the long run, this Government is choosing to make the UK labour market less competitive by taxing a company’s ability to hire working people.”

Mr Hobday said this ability was “key for our national prosperity”, adding: “I wish our politicians properly debated policy and macroeconomic models thoroughly and publicly before they announced them.”

Brewers are not the only food and drink producers which are warning over the impact of increased NICs and wage rises.

Richard Clothier, the managing director of Wyke Farms, a Somerset-based dairy producer, said his business was facing almost £500,000 in added costs per year as a result of the changes, which would result in the price of cheese going up.

“Just as we thought inflation was starting to come under control, we see these massive NI increases, which will drive up food inflation because it is a cost that the industry has to bear.”

HM Treasury was approached for comment.

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