Budget Delay Leaves Hospitality in Limbo

Chancellor Rachel Reeves’ decision to push back the Autumn Budget until the end of November – the latest date in a decade – has left hospitality businesses facing fresh uncertainty at a critical time of year.

Phil Thorley, chief executive of Kent-based pub group Thorley Taverns, said:
“We are a seasonal business, and we employ 400 people – we need to be able to look and see fiscally how we’re going to be going forward. You can’t plan without the information, and the information is being released even later. We are horrified about the thought of any further tax increases.”

Kate Nicholls, chair of UKHospitality, warned the delay will make it harder for businesses to budget for next year:
“The industry cannot stand another three months of damaging speculation over potential tax rises.”

Alex Reilley, chairman of Loungers, added:
“Given the level of speculation and briefing of what might be in the Autumn Budget, you can’t help but feel this isn’t good for consumer confidence or the economy. Ultimately, this is extremely unhelpful for hospitality, retail, and the UK high street in the run-up to Christmas.”

Thorley noted that a sunny summer had masked the strain on consumer confidence:
“We’ve been very fortunate this summer has been sunny. But I think that has masked the fact that consumer confidence is extremely low. If there are further tax rises to come, I think it’s going to be a very woeful Christmas for the hospitality trade.”