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Wetherspoons boss condemns Hammond's 'budget for dinner parties' Wetherspoons boss condemns Hammond's 'budget for dinner parties'
(about 2 hours later)
The chairman of JD Wetherspoon has laid into the chancellor, Philip Hammond, accusing him of delivering a “budget for dinner parties” rather than pub-goers.The chairman of JD Wetherspoon has laid into the chancellor, Philip Hammond, accusing him of delivering a “budget for dinner parties” rather than pub-goers.
Tim Martin used a first-half trading statement to highlight nearly £30m of extra charges Wetherspoon will have to pay as a result of tax hikes, and derided Hammond for threatening the pub sector’s survival.Tim Martin used a first-half trading statement to highlight nearly £30m of extra charges Wetherspoon will have to pay as a result of tax hikes, and derided Hammond for threatening the pub sector’s survival.
He said: “We understand the need for the government to raise taxes. However, 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.”He said: “We understand the need for the government to raise taxes. However, 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.”
Martin totted up a business rates bill of £7m, a £2m apprenticeship levy and a £4m hit from the sugar tax that will contribute to £29m in extra charges the group will face over the next few years.Martin totted up a business rates bill of £7m, a £2m apprenticeship levy and a £4m hit from the sugar tax that will contribute to £29m in extra charges the group will face over the next few years.
He also poured scorn on a £1,000 business rates discount for pubs with a rateable value of less than £100,000, saying “that sum is dwarfed by tax and regulatory increases” and that Wetherspoon is not eligible for it in any case.He also poured scorn on a £1,000 business rates discount for pubs with a rateable value of less than £100,000, saying “that sum is dwarfed by tax and regulatory increases” and that Wetherspoon is not eligible for it in any case.
The outspoken New Zealander pointed out the disparity between how pubs are taxed compared with supermarkets when it comes to VAT on food sales. The outspoken businessman pointed out the disparity between how pubs are taxed compared with supermarkets when it comes to VAT on food sales.
“The chancellor was less than frank in his budget speech, since he did not spell out the duty increases, giving the impression to many that there would be no increase.“The chancellor was less than frank in his budget speech, since he did not spell out the duty increases, giving the impression to many that there would be no increase.
“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,” he 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,” he said.