Tax and labour increases costing average pub £14,000, says industry body
Tax increases and the rise in the minimum wage have cost each UK pub about £14,000 on average, according to the latest figures.
The impact of rises in national insurance contributions, the national minimum wage, business rates for some companies and packaging taxes have wiped out the equivalent of 12 days of pubs' turnover, the British Beer and Pub Association (BBPA) said.
Emma McClarkin, boss of the trade body, said the hit was 'indefensible' and called for immediate action to help support the future of the sector.
It has urged the Government to overhaul the current business rates system of property tax in order to help offset recent cost increases.
The Labour Government has said it plans to reform the current business rates system, and in March said it will publish an interim report on this during the summer.
However, in April's budget, the Government cut a relief on the property tax – that came in following the Covid pandemic – from 75% to 40%, resulting in significantly higher bills for hospitality, retail and leisure businesses.
The BPPA has called on the Government to speed up reforms of the commercial property tax to alleviate pressure on pubs.
The organisation warned earlier this year that the average price of a pint of beer would surge past £5 for the first time because of the cost hikes hitting the sector.
It said the average cost of a pint in the UK was expected to rise by about 21p as a result as pubs are forced to pass some cost inflation onto customers.
Ms McClarkin, chief executive of the BBPA, said: 'Pubs are effectively having to run on empty for nearly a fortnight which is indefensible considering how vital they are to communities, livelihoods, and the economy.
'We support Labour's ambitions to unlock the UK's potential but, to do that, they must make practical, meaningful changes that support pubs and the jobs that rely on them.
'We are not asking for special treatment — we ask only for fairness.
'We want a modernised, business rates system that supports, not punishes, pubs; Government to mitigate employment cost rises; and a review of the nonsensical and unfair EPR (extended producer responsibility) system.'
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
23 minutes ago
- Yahoo
All the major money changes coming from July 1 impacting every Aussie: '$47,000 boost'
There are huge changes coming into force in the next few weeks that will have major implications on certain aspects of Australian life. July 1 marks the beginning of the new financial year, and it's usually a time when certain systems are updated. Your mandatory employer superannuation contributions will be going up, along with the national minimum wage, and some Centrelink payments will also get a small boost. Some residents will also have to fork out more for their electricity, while parents will get an increase in their Paid Parental Leave. Here's a handy list of what to expect in the coming weeks. Centrelink issues urgent deadline warning for lump sum payment ATO superannuation warning as deadline for $30,000 deduction fast approaches Aussie mum's $1,200 electricity bill shock sparks warning for millions At the moment, your employer has to pay a minimum of 11.5 per cent of your salary to your superannuation fund. At the beginning of the next financial year, that will jump to 12 per cent. That is the final legislated increase for compulsory super payments after going up 0.5 per cent every year since 2021. For someone on $100,000 per year, that's an additional $500 in your super account every 12 months. If they had another 30 years left of work, that would add more than $47,000 to your retirement nest egg. The transfer balance cap, which limits the total amount of super that can be transferred into the retirement phase, will also increase by $100,000 from $1.9 million to $2 million. The maximum super contribution base, which is used to determine the highest limit on any individual employee's earnings base for each quarter of any financial year, will decrease from $65,070 to $62,500. Find out more Fair Work Commission revealed earlier this month how much the national minimum wage would increase by. It's currently $24.10 per hour, which works out to $915.90 per 38-hour week or $47,626.80 per year. But this will be hiked by 3.5 per cent on July 1 to $24.90 per hour, or $948 per week. This comes after Prime Minister Anthony Albanese backed an 'economically sustainable real wage increase' for minimum and award wage earnings. Find out more here. Paid Parental Leave (PPL) will increase to 120 days or 24 weeks after being set at 110 days or 22 weeks. If your child was born after July 1 last year, you'll be able to get the current rate of the Centrelink payment. However, if your child is born after July 1 this year, parents will benefit from the extension. Not only that, but superannuation will start being paid on PPL. This means parents getting the support will get an extra 12 per cent of their payment as a contribution to their super fund. Find out more here. From July 1, you won't be able to claim the interest on overdue tax debts as a tax deduction. The General Interest Charge (GIC) and Shortfall Interest Charge (SIC) will no longer be tax-deductible, which is expected to boost tax revenue by $500 million in 2026 and 2027. The ATO applies the GIC when a tax debt hasn't been paid by the due date, including where a tax return has been lodged late. Find out more here. Millions of Centrelink recipients will see a small increase in their payments in the coming weeks from July 1 as part of regular indexation to ensure the cash boosts keep up with the rising cost of living. That includes payment increases for families receiving the Family Tax Benefit A and B, the Multiple Birth Allowance, and the Newborn Supplement. Around 2.4 million Australians will benefit from the latest round of indexation, which will see a range of rates, thresholds and limits increase by 2.4 per cent. That equates to payment increases of between $4.48 to $48. Income and asset thresholds will also be increased for recipients of the Age Pension, Disability Support Pension and Carer Payment. Find out more here. Your energy bills are set to go up following the start of the new financial year. AGL's prices will increase by 13.5 per cent in NSW, 7.8 per cent in South Australia, 7.5 per cent in Queensland and 6.8 per cent in Victoria from July 1. NSW customers will see their bills go up by as much as an extra $300 a year, based on medium usage. This comes after energy regulators announced its default prices for the new year, which will see standard energy plans rise by up to $228. But the government has announced a new $150 energy rebate, which will be given out in two $75 instalments over the two remaining quarters of 2025. Find out more here. This is an extra tax you have to pay if you earn over a certain amount and don't have private health insurance. Singles who earn over $101,000 and families who earn over $202,000 and don't have appropriate hospital insurance will now have to pay the surcharge. This is up from $97,000 and $194,000, respectively. Find out more here.
Yahoo
24 minutes ago
- Yahoo
Alpari Report Gold above $3K: the appeal of safe haven assets in volatile times after 'Liberation Day'
LONDON, June 16, 2025 /PRNewswire/ -- In March, the spot price of gold rose above $3K where it has stayed, currently sitting above $3.4K. Apart from briefly exceeding this price a few days on 14 March and dropping again, this is the first time the asset has hit this record price. A key reason for the high price of gold is the current economic and geopolitical instability. The broker Alpari has put together a report on gold and other safe-haven assets, and why investors turn to them during periods of instability. One reason for gold's reliability as a safe haven asset is its scarcity, with over 90% of the world's gold already mined according to the World Gold Council. While it is only as recently as March that gold reached the landmark price of $3,000, it had already been reaching high prices in 2024. Central banks increasing their stocks of the precious metal was one key factor, with central banks around the world purchasing over 1,000 tonnes of gold last year. Uncertainty around what the effects of President Trump's tariffs and other policies will be has caused volatility, sending U.S. investors in particular in search of safe havens. From December 2024 to 17 February, almost 20 million ounces of gold had been imported into the country, according to the World Gold Council. Alpari's guide also includes an overview of how gold is priced and how it can be traded against different currencies. The worldwide benchmark is XAUUSD, or the price of 1 troy ounce gold quoted in U.S. dollars, but 'gold crosses' against currencies can also give traders the opportunity to make a profit based on differing gold prices around the world. In 2024, gold vs the U.S. dollar or XAUUSD climbed 27%. In contrast, due to the economic situation in Japan, with labour shortages and low interest rates, gold vs the yen or XAUJPY climbed by a much higher 42%. Alexey Efimov, Market Analyst at Alpari, comments: "Trade war fears and central bank purchases should ensure that bullion's supportive drivers remain intact. The evident risks on the global landscape are playing to gold's strengths and amplifying its time-tested virtues, be it as a safe haven or an inflation hedge. About Alpari: Alpari is a long-established leader in online financial trading. They pioneered online forex trading for retail clients 25 years ago, and remain focused on enabling individuals to access the potential of global financial markets Alpari clients are individuals with an appetite to generate financial returns through self-directed trading. They are comfortable taking risks in order to generate returns and are willing to invest time to build the skills needed to succeed Alpari's promise to these clients is to enable them to "access global trading opportunities securely". They believe that individuals anywhere in the world should be able to access opportunities in financial markets - where local political environments do not support domestic regulation, they provide solutions for individuals to access our services offshore, but offering the same service standards and client protections as a regulated business. ContactHana MontgomeryShout Bravohello@ Logo - View original content to download multimedia: SOURCE Alpari Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
34 minutes ago
- Yahoo
Trump tariffs live updates: Trump, Starmer sign US-UK trade deal at G7 summit
President Trump and British Prime Minister Keir Starmer signed a trade deal that they had agreed to last month at the G7 summit in Canada. Trump said the relationship with Britain was "just fantastic," as he stood to Starmer. "We signed it and it's done," he added. Starmer said the agreement covers car tariffs and aerospace, but gave no further details, including when the changes would take effect. US trade talks with the European Union and Canada are also in focus this week as the president and other world leaders gather at the G7. A report in the German newspaper Handelsblatt on Monday hinted the EU could agree to a baseline 10% US tariff on all European Union exports, in exchange for avoiding higher tariffs on cars, medicines, and electronics. The European Commission denied that report. Meanwhile, Trump said on the first day of the G7 gathering that a trade deal with Canada was possible. "We have different concepts. I have a tariff concept. Mark has a different concept," Trump said, standing alongside Canadian Prime Minister Mark Carney. "We're going to see if we can get to the bottom of it today." Canada's exports have been hit hard in Trump's trade salvos so far, as Trump has doubled duties on steel and aluminum imports to 50%. Meanwhile, Canada's auto exports to the US face 25% duties. Some products not included in the countries' existing trade agreement also face 25% levies. The furious push comes after Trump told reporters last week that he would soon send letters to trading partners setting unilateral tariff rates, raising questions about the status of negotiations — as well as fears of a possible escalation back to his "Liberation Day" tariffs that roiled markets. Trump instituted a pause on his most punishing duties that expires July 9. The diverging signals came as the US made key progress with China, as the nations agreed to a framework and implementation plan to ease tariff and trade tensions. Trump and other US officials indicated the deal should resolve issues between the two countries on rare earth mineral exports. Trump said the US would impose a total of 55% tariffs on Chinese goods. Yahoo Finance's Ben Werschkul reports, citing a White House official, that Trump arrived at that figure by adding together an array of preexisting duties and not any new tariffs. Meanwhile last week, a federal appeals court held a decision saying his tariffs can temporarily stay in effect. The US Court of International Trade had blocked their implementation last month, deeming the method used to enact them "unlawful." Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. President Trump and British Prime Minister Keir Starmer said they had signed a trade deal that the leaders had agreed to last month. Trump said the relationship with Britain was "just fantastic" as he stood next to Starmer. "We signed it and it's done," he added. Starmer said that the agreement covers "car tariffs and aerospace," but the leaders gave no further details, including when the changes would take effect. The US and United Kingdom are on track to begin implementing their trade agreement, Bloomberg reported Monday. The deal, announced early last month, is the sole agreement President Trump has reached with trade partners during his 90-day "pause" from the steep tariffs he announced in early April. Bloomberg reports: Read more here. President Trump kicked off three days of meetings in Canada, where trade will be front and center as well as a focus on national security issues. "I'm a tariff person, I've always been a tariff person," Trump said after meeting with Canadian Prime Minister Mark Carney at the start of a G7 summit in Kananaskis, Alberta. Yahoo Finance's Ben Werschkul reports: Read more here. Frank-Steffen Walliser, the CEO of luxury British automaker Bentley, said that trade remains an overhanging issue for the brand despite a preliminary agreement between the US and UK. Bentley, a subsidiary of Volkswagen (VWAGY), is coming off a tough year as it looks to electrify its vehicle lineup. Yahoo Finance's Pras Subramanian reports: Read more here. With US trade talks with the European Union in focus, there's a lot at stake for the two sides as they look to complete a preliminary deal by President Trump's July 9 deadline. If no agreement is reached by July 9, the US is set to increase broad tariffs on EU imports to 50% from 10%. The EU is hoping to have that deadline extended while negotiations continue. The European trading bloc is the US's largest trading partner; in 2024, it exported $600 billion worth of goods and imported $370 billion of US products. Despite the Trump administration's tariffs, the EU's trade surplus with the US has expanded each month since January. Both imports and exports increased in April, netting a total US trade deficit of around $115 billion. President Trump originally pegged his "Liberation Day" tariff rates to trade deficits, suggesting that this metric would be important to any final proposal, though the talks have also highlighted specific sectors and other areas of cooperation. President Trump on Monday suggested he was optimistic about trade negotiations with Canada during the opening day of the G7 meeting. "I think our primary focus will be trade, and trade with Canada, and I'm sure we can work something out," he said, per Yahoo Finance Canada. "We have different concepts. I have a tariff concept. Mark has a different concept," Trump added, standing alongside Canadian Prime Minister Mark Carney. "We're going to see if we can get to the bottom of it today." Trade is one of several items taking focus at the G7 gathering, with Trump's latest self-imposed tariff deadline is looming in July. Canada already faces a bevy of duties that affect its imports: 50% on steel and aluminum and 25% on foreign autos. Read more here. At Home filed for bankruptcy on Monday and said tariffs played a central role in its financial struggles. The chain of 260 stores sells home goods and has been struggling to manage its debt load for several years as the housing market slowed down and inflation-wary customers pulled back on spending. This year, tariffs proved to be a final blow, the company's CFO wrote in court documents. "The volatility of the current tariff environment came at a time when the management team was working to address the company's existing issues," CFO Jeremy Aguilar wrote. "These newly imposed tariffs and the uncertainty of ongoing U.S. trade negotiations intensified the financial pressure on the company, accelerating the need for a comprehensive solution." At Home sources a large percentage of its goods from China, and the tariff uncertainty made it hard for it to plan its key Halloween and Christmas orders ahead of time. Earlier this year, it was in talks to raise money and amend an agreement with lenders to shore up its finances but realized it needed a more "comprehensive strategy" after the new tariffs were announced. The chain is entering bankruptcy with a plan to continue operating, close some stores, and hand ownership to its lenders. Trump's Tariffs are affecting consumers beyond retail — they are also impacting aspects of everyday life. Families who would typically avoid the big amusement parks like Disney World in favor of more regional parks, which allow them to travel locally and avoid expensive flights are now saying they may stay home due to the economic uncertainty brought on by tariffs. AP reports: Read more here. CNN reports: Read more here. As President Trump's tariff deadline looms, what will happen when the countdown ends on Liberation Day 2.0? Yahoo Finance's Washington Correspondent Ben Werschkul looks into Trump's plan of action: Read more here. Despite a trade truce between the US and China last week in London, a key area remains unresolved. Export restrictions tied to national security are still being discussed, and Beijing has not committed to grant export clearance for some specialized rare earth magnets, according to two sources. Reuters reports: Read more here. Reuters reports: Read more here. According to reports in the German newspaper Handlesblatt, senior Brussels negotiators are considering whether to accept US tariffs of 10% on all EU exports into the US, in hopes it will prevent higher duties on cars, drugs, and electronics. Per Reuters, EU officials said the offer would come under certain conditions and would not be permanent. Handelsblatt reported that the EU is ready to cut tariffs on US-made vehicles and may ease technical and legal hurdles to make it easier for US manufacturers to sell their cars in Europe. Reuters reports: Read more here. China reported mixed economic performance for May on Monday, as retail sales jumped while factory output slowed due to higher US tariffs. AP reports: Read more here. Thailand's commerce minister has expressed confidence that he will be able to negotiate tariffs as low as 10% with the US. Reuters reports: Read more here. Reuters reports: Read more here. As part of tariff negotiations, the US has requested that Vietnam reduce the use of Chinese tech devices that are assembled in the country before exporting to America, according to several people familiar with the matter. Reuters reports: Read more here. South Korea has launched a task force to help handle tariff and non-tariff negotiations with the US. The group will manage discussions across industry and the energy sector, a statement from the Industry Ministry for South Korea revealed on Monday. Reuters reports: Read more here. Canada will host world leaders from across the globe at the G7 summit this week in Kananaskis. Among the many goals for Canadian Prime Minister Mark Carney: Demonstrate he can handle US President Donald Trump, the Financial Times reports, with one Canadian official characterizing the gathering as "preparing the red carpet for Godzilla." Read more here (premium) As leaders gather this week in Canada for the G7 summit, Israel's strike on Iran is sure to be a topic of discussion among the gathering. But as CNN reports, world trade and President Donald Trump's tariffs will also be top of mind: Read more here President Trump and British Prime Minister Keir Starmer said they had signed a trade deal that the leaders had agreed to last month. Trump said the relationship with Britain was "just fantastic" as he stood next to Starmer. "We signed it and it's done," he added. Starmer said that the agreement covers "car tariffs and aerospace," but the leaders gave no further details, including when the changes would take effect. The US and United Kingdom are on track to begin implementing their trade agreement, Bloomberg reported Monday. The deal, announced early last month, is the sole agreement President Trump has reached with trade partners during his 90-day "pause" from the steep tariffs he announced in early April. Bloomberg reports: Read more here. President Trump kicked off three days of meetings in Canada, where trade will be front and center as well as a focus on national security issues. "I'm a tariff person, I've always been a tariff person," Trump said after meeting with Canadian Prime Minister Mark Carney at the start of a G7 summit in Kananaskis, Alberta. Yahoo Finance's Ben Werschkul reports: Read more here. Frank-Steffen Walliser, the CEO of luxury British automaker Bentley, said that trade remains an overhanging issue for the brand despite a preliminary agreement between the US and UK. Bentley, a subsidiary of Volkswagen (VWAGY), is coming off a tough year as it looks to electrify its vehicle lineup. Yahoo Finance's Pras Subramanian reports: Read more here. With US trade talks with the European Union in focus, there's a lot at stake for the two sides as they look to complete a preliminary deal by President Trump's July 9 deadline. If no agreement is reached by July 9, the US is set to increase broad tariffs on EU imports to 50% from 10%. The EU is hoping to have that deadline extended while negotiations continue. The European trading bloc is the US's largest trading partner; in 2024, it exported $600 billion worth of goods and imported $370 billion of US products. Despite the Trump administration's tariffs, the EU's trade surplus with the US has expanded each month since January. Both imports and exports increased in April, netting a total US trade deficit of around $115 billion. President Trump originally pegged his "Liberation Day" tariff rates to trade deficits, suggesting that this metric would be important to any final proposal, though the talks have also highlighted specific sectors and other areas of cooperation. President Trump on Monday suggested he was optimistic about trade negotiations with Canada during the opening day of the G7 meeting. "I think our primary focus will be trade, and trade with Canada, and I'm sure we can work something out," he said, per Yahoo Finance Canada. "We have different concepts. I have a tariff concept. Mark has a different concept," Trump added, standing alongside Canadian Prime Minister Mark Carney. "We're going to see if we can get to the bottom of it today." Trade is one of several items taking focus at the G7 gathering, with Trump's latest self-imposed tariff deadline is looming in July. Canada already faces a bevy of duties that affect its imports: 50% on steel and aluminum and 25% on foreign autos. Read more here. At Home filed for bankruptcy on Monday and said tariffs played a central role in its financial struggles. The chain of 260 stores sells home goods and has been struggling to manage its debt load for several years as the housing market slowed down and inflation-wary customers pulled back on spending. This year, tariffs proved to be a final blow, the company's CFO wrote in court documents. "The volatility of the current tariff environment came at a time when the management team was working to address the company's existing issues," CFO Jeremy Aguilar wrote. "These newly imposed tariffs and the uncertainty of ongoing U.S. trade negotiations intensified the financial pressure on the company, accelerating the need for a comprehensive solution." At Home sources a large percentage of its goods from China, and the tariff uncertainty made it hard for it to plan its key Halloween and Christmas orders ahead of time. Earlier this year, it was in talks to raise money and amend an agreement with lenders to shore up its finances but realized it needed a more "comprehensive strategy" after the new tariffs were announced. The chain is entering bankruptcy with a plan to continue operating, close some stores, and hand ownership to its lenders. Trump's Tariffs are affecting consumers beyond retail — they are also impacting aspects of everyday life. Families who would typically avoid the big amusement parks like Disney World in favor of more regional parks, which allow them to travel locally and avoid expensive flights are now saying they may stay home due to the economic uncertainty brought on by tariffs. AP reports: Read more here. CNN reports: Read more here. As President Trump's tariff deadline looms, what will happen when the countdown ends on Liberation Day 2.0? Yahoo Finance's Washington Correspondent Ben Werschkul looks into Trump's plan of action: Read more here. Despite a trade truce between the US and China last week in London, a key area remains unresolved. Export restrictions tied to national security are still being discussed, and Beijing has not committed to grant export clearance for some specialized rare earth magnets, according to two sources. Reuters reports: Read more here. Reuters reports: Read more here. According to reports in the German newspaper Handlesblatt, senior Brussels negotiators are considering whether to accept US tariffs of 10% on all EU exports into the US, in hopes it will prevent higher duties on cars, drugs, and electronics. Per Reuters, EU officials said the offer would come under certain conditions and would not be permanent. Handelsblatt reported that the EU is ready to cut tariffs on US-made vehicles and may ease technical and legal hurdles to make it easier for US manufacturers to sell their cars in Europe. Reuters reports: Read more here. China reported mixed economic performance for May on Monday, as retail sales jumped while factory output slowed due to higher US tariffs. AP reports: Read more here. Thailand's commerce minister has expressed confidence that he will be able to negotiate tariffs as low as 10% with the US. Reuters reports: Read more here. Reuters reports: Read more here. As part of tariff negotiations, the US has requested that Vietnam reduce the use of Chinese tech devices that are assembled in the country before exporting to America, according to several people familiar with the matter. Reuters reports: Read more here. South Korea has launched a task force to help handle tariff and non-tariff negotiations with the US. The group will manage discussions across industry and the energy sector, a statement from the Industry Ministry for South Korea revealed on Monday. Reuters reports: Read more here. Canada will host world leaders from across the globe at the G7 summit this week in Kananaskis. Among the many goals for Canadian Prime Minister Mark Carney: Demonstrate he can handle US President Donald Trump, the Financial Times reports, with one Canadian official characterizing the gathering as "preparing the red carpet for Godzilla." Read more here (premium) As leaders gather this week in Canada for the G7 summit, Israel's strike on Iran is sure to be a topic of discussion among the gathering. But as CNN reports, world trade and President Donald Trump's tariffs will also be top of mind: Read more here