Sector gears up for new PM to be revealed
Candidates Rishi Sunak and Liz Truss have been battling to become the next Conservative party leader over recent weeks after Boris Johnson resigned in July.
A poll last month (August) from The Morning Advertiser, found operators want the new PM to make energy prices their top priority when they come into power in light of the ongoing rocketing costs for the sector.
Sector support
In addition, trade bodies from across the industry also called for action to be taken now with the Campaign for Real Ale (CAMRA) inviting Truss and Sunak to the pub, to discuss soaring energy prices, stock costs rising and plunging consumer confidence.
CAMRA also wants to tell the Prime Minister hopefuls about the need to protect the UK’s locals, safeguard the tradition of socialising at the pub and hear about the benefits pubs and breweries bring to communities and the economy across the country.
The Society of Independent Brewers (SIBA) also threw its weight behind the campaign on energy pricing and support for the sector.
Points provided
BrewDog boss James Watt also voiced his thoughts on five points the new PM should act on to help the sector.
This included reversing the national insurance contributions rise, reducing business rates either in half or to zero for a year, state-backed loans for pubs and bars, a 12 month VAT holiday for hospitality and extending the energy cap approach to businesses.
While Sunak previously vowed to slash business rates if he was to be elected as Conservative party leader, there were also reports Truss was considering cutting VAT by five percentage points to 15%.
“A VAT reduction would not only help consumers now, it would also underpin business viability going forward – protecting jobs and livelihoods in hospitality, boosting confidence and insulating against further price spikes, which fuel inflation. A big positive step,” according to UKHospitality chief executive Kate Nicholls.
