Spring Statement a ‘Missed Opportunity’ as Sector Braces for April Shockwave

The Chancellor’s Spring Statement has sparked widespread disappointment across the hospitality sector, with industry leaders branding it a “missed opportunity” to avert a looming crisis for high street businesses, including our industry.

Despite repeated warnings from across the industry, the Spring Statement delivered by Chancellor Rachel Reeves failed to address key inflationary pressures set to hit in April. With rises in the National Minimum Wage, increases to National Insurance rates, and a lowered threshold for employer contributions, the sector now faces an unprecedented financial burden.

NFFF President, Andrew Crook said: “Yes again the vital role the hospitality sector plays in the economy and the communities we serve has been overlooked by government. Independent hospitality is bearing the brunt of the pressures and extra burden placed by legislation. Government need to engage more closely with the indie to ensure we can help deliver the growth the country sorely needs and that irreparable damage is not done. “

Pubs and Breweries: Jobs and Communities at Risk

Emma McClarkin of the British Beer and Pub Association echoed the concerns, highlighting a predicted £70 million per month in additional costs starting April – equivalent to 5,700 jobs lost every month. “The government has not listened to business,” she said. “We now expect to see pubs close at a faster rate, risking growth and hurting communities who rely on them.”

Steve Alton, CEO of the British Institute of Innkeeping, added: “Today’s statement was incredibly disappointing. Growth will be impossible as operators are forced to cut services and staffing levels just to survive.”

Small Businesses Left Behind

Independent night-time economy advisor Sacha Lord described the outlook as “not a viable plan” for the hardest-working people in the country. “These aren’t just numbers on a spreadsheet—these are real people, real livelihoods. Job losses will be inevitable from April.”

Call for Urgent Government Action

Dee Corsi of the New West End Company highlighted two major policy gaps: the looming hike in business rates and the continued absence of tax-free shopping. She warned that these oversights are harming UK competitiveness and blocking growth for retail, hospitality, and leisure.