Greene King urges Chancellor to address rising costs in hospitality sector
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
Jonathan Fearn, finance chief of Greene King, urged John Healey to take action on rising business costs in the hospitality industry. He warned that soaring taxes and employment costs have pushed the sector to “breaking point”. Fearn specifically called for action on business rates, National Insurance, and VAT.
From cityam.com
Why it matters
The appeal from Greene King highlights the financial pressures faced by the UK's pub industry. Inflation has added £400m to Greene King's business costs since 2019. Fearn noted that a pub makes only 12p profit from each pint sold.
From cityam.com
Who's involved
- Greene KingPub retailer whose finance boss made the appeal regarding industry costs
- John HealeyChancellor to whom Greene King directed its appeal
- Andy BurnhamPolitician whose business rate cut for pubs was welcomed by Greene King
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- HM TreasurySpeculative
HM Treasury might face pressure to change VAT and National Insurance policies due to demands from Greene King.
- governmentSpeculative
The government could face lobbying pressure demanding changes to tax and cost policy.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.Keep exploring
The entities involved
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Greene King
British brewery and pub retailer
Nothing else this week.
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John Healey
British politician (born 1960)