Latest news with #BishopsFinger
Yahoo
24-03-2025
- Business
- Yahoo
Average price of pint to surge above £5 due to April cost hikes, say beer bosses
The average price of a pint of beer is set to surge past £5 for the first time due to cost hikes hitting the sector next month, according to industry bosses. Pub sector chiefs have warned that prices for customers will have to increase in order to help keep venues running in the face of higher labour costs. The British Beer and Pub Association said the average cost of a pint in the UK is expected to rise by around 21p as a result. The research, commissioned alongside Frontier Economics, showed that pub firms are expecting to raise the average price of a pint from £4.80 to £5.01. This comes amid a raft of cost increases linked to last October's budget, which will come into force in April. Firms will face increases to the national minimum wage, a rise in national insurance rates and a decrease in the threshold at which firms start paying out national insurance. Business rates discounts for firms in the sector will also be cut from 75% to 40% from April. The net cost of autumn budget announcements across the beer and pub sector is approximately £650 million in total, the trade body said. It comes after historic brewer Shepherd Neame – which makes ales including Spitfire and Bishops Finger – said earlier this week that it will hike its beer prices in response to rising taxes. Emma McClarkin, chief executive of the British Beer and Pub Association (BBPA), said: 'The cumulative impact of these taxes and regulations is now plain to see and it is highly unfortunate that the only way many pubs can remain viable is to pass on the array of upcoming costs to consumers. 'No one wants to see the cost of an average pint increase by a further 21p and break the £5 average pint barrier that will be required for pubs to maintain their punishingly slim profit margins. 'It is more urgent than ever that Government looks at ways to cap or reduce the costs of doing business so we can keep pubs open, preserve their community value, and make sure the price of a pint remains affordable for all.' Tim Black, associate director at Frontier Economics, said: 'The beer and pub sector has shown real resilience through a tough few years – navigating the pandemic, the energy crisis, and the cost-of-living squeeze. 'But more headwinds are coming. 'The sector is at the sharp end of a wave of policy changes that will push up costs – higher wages, increased national insurance, reduced business rates relief, and new packaging rules. The cumulative impact will be significant.'
The Independent
24-03-2025
- Business
- The Independent
Pubs say the average cost of a pint will rise above £5 for the first time
The average cost of a pint is set to surge past £5 for the first time as the hospitality sector reacts to higher labour costs. Pub sector experts say that prices for customers will have to increase in order to help keep venues running. The British Beer and Pub Association said the average cost of a pint in the UK is expected to rise by around 21p as a result. The research, commissioned alongside Frontier Economics, showed that pub firms are expecting to raise the average price of a pint from £4.80 to £5.01. This comes amid a raft of cost increases linked to last October 's budget, which will come into force in April. Firms will face increases to the national minimum wage, a rise in national insurance rates and a decrease in the threshold at which firms start paying out national insurance. Business rates discounts for firms in the sector will also be cut from 75 per cent to 40 per cent from April. The net cost of autumn budget announcements across the beer and pub sector is approximately £650 million in total, the trade body said. It comes after historic brewer Shepherd Neame – which makes ales including Spitfire and Bishops Finger – said it will hike its beer prices in response to rising taxes. Emma McClarkin, chief executive of the British Beer and Pub Association (BBPA), said: 'The cumulative impact of these taxes and regulations is now plain to see and it is highly unfortunate that the only way many pubs can remain viable is to pass on the array of upcoming costs to consumers. 'No one wants to see the cost of an average pint increase by a further 21p and break the £5 average pint barrier that will be required for pubs to maintain their punishingly slim profit margins. 'It is more urgent than ever that Government looks at ways to cap or reduce the costs of doing business so we can keep pubs open, preserve their community value, and make sure the price of a pint remains affordable for all.' Tim Black, associate director at Frontier Economics, said: 'The beer and pub sector has shown real resilience through a tough few years – navigating the pandemic, the energy crisis, and the cost-of-living squeeze. 'But more headwinds are coming. 'The sector is at the sharp end of a wave of policy changes that will push up costs – higher wages, increased national insurance, reduced business rates relief, and new packaging rules. The cumulative impact will be significant.'
Yahoo
24-03-2025
- Business
- Yahoo
Average price of pint to surge above £5 due to April cost hikes, say beer bosses
The average price of a pint of beer is set to surge past £5 for the first time due to cost hikes hitting the sector next month, according to industry bosses. Pub sector chiefs have warned that prices for customers will have to increase in order to help keep venues running in the face of higher labour costs. The British Beer and Pub Association said the average cost of a pint in the UK is expected to rise by around 21p as a result. The research, commissioned alongside Frontier Economics, showed that pub firms are expecting to raise the average price of a pint from £4.80 to £5.01. This comes amid a raft of cost increases linked to last October's budget, which will come into force in April. Firms will face increases to the national minimum wage, a rise in national insurance rates and a decrease in the threshold at which firms start paying out national insurance. Business rates discounts for firms in the sector will also be cut from 75% to 40% from April. The net cost of autumn budget announcements across the beer and pub sector is approximately £650 million in total, the trade body said. It comes after historic brewer Shepherd Neame – which makes ales including Spitfire and Bishops Finger – said earlier this week that it will hike its beer prices in response to rising taxes. Emma McClarkin, chief executive of the British Beer and Pub Association (BBPA), said: 'The cumulative impact of these taxes and regulations is now plain to see and it is highly unfortunate that the only way many pubs can remain viable is to pass on the array of upcoming costs to consumers. 'No one wants to see the cost of an average pint increase by a further 21p and break the £5 average pint barrier that will be required for pubs to maintain their punishingly slim profit margins. 'It is more urgent than ever that Government looks at ways to cap or reduce the costs of doing business so we can keep pubs open, preserve their community value, and make sure the price of a pint remains affordable for all.' Tim Black, associate director at Frontier Economics, said: 'The beer and pub sector has shown real resilience through a tough few years – navigating the pandemic, the energy crisis, and the cost-of-living squeeze. 'But more headwinds are coming. 'The sector is at the sharp end of a wave of policy changes that will push up costs – higher wages, increased national insurance, reduced business rates relief, and new packaging rules. The cumulative impact will be significant.' Sign in to access your portfolio
The Independent
24-03-2025
- Business
- The Independent
This is why the average cost of a pint will surge past £5 for the first time
It will now cost over £5 on average to buy a pint of beer in England. Industry bosses say the amount is set to surge due to cost hikes hitting the sector next month. Pub sector experts say that prices for customers will have to increase in order to help keep venues running. This is in the face of higher labour costs. The British Beer and Pub Association said the average cost of a pint in the UK is expected to rise by around 21p as a result. The research, commissioned alongside Frontier Economics, showed that pub firms are expecting to raise the average price of a pint from £4.80 to £5.01. This comes amid a raft of cost increases linked to last October 's budget, which will come into force in April. Firms will face increases to the national minimum wage, a rise in national insurance rates and a decrease in the threshold at which firms start paying out national insurance. Business rates discounts for firms in the sector will also be cut from 75% to 40% from April. The net cost of autumn budget announcements across the beer and pub sector is approximately £650 million in total, the trade body said. It comes after historic brewer Shepherd Neame – which makes ales including Spitfire and Bishops Finger – said earlier this week that it will hike its beer prices in response to rising taxes. Emma McClarkin, chief executive of the British Beer and Pub Association (BBPA), said: 'The cumulative impact of these taxes and regulations is now plain to see and it is highly unfortunate that the only way many pubs can remain viable is to pass on the array of upcoming costs to consumers. 'No one wants to see the cost of an average pint increase by a further 21p and break the £5 average pint barrier that will be required for pubs to maintain their punishingly slim profit margins. 'It is more urgent than ever that Government looks at ways to cap or reduce the costs of doing business so we can keep pubs open, preserve their community value, and make sure the price of a pint remains affordable for all.' Tim Black, associate director at Frontier Economics, said: 'The beer and pub sector has shown real resilience through a tough few years – navigating the pandemic, the energy crisis, and the cost-of-living squeeze. 'But more headwinds are coming. 'The sector is at the sharp end of a wave of policy changes that will push up costs – higher wages, increased national insurance, reduced business rates relief, and new packaging rules. The cumulative impact will be significant.'
The Guardian
24-03-2025
- Business
- The Guardian
Sobering news: pubs say average cost of a pint will rise above £5
Londoners might not bat an eyelid at paying £5 for a pint but the national average is poised to rise above that watermark for the first time, with publicans blaming tax rises introduced by the chancellor, Rachel Reeves. The sobering milestone is likely to be reached next month, according to research by Frontier Economics, with the average price of a pint of beer on course to hit £5.01, up from £4.80. The British Beer and Pub Association (BBPA), which commissioned the research, said landlords had been left with no choice but to raise prices to offset tax rises that are due to come into force in April. Pubs will face greater overheads due to an increase in the national minimum wage, a rise in national insurance rates and a decrease in the threshold at which they start paying out national insurance. Discounts on business rates paid by hospitality firms will also be cut from 75% to 40% from April. The net cost to the pubs sector of these measures, introduced in last October's budget, will hit £650m in total, the trade body said. Last week the brewer Shepherd Neame, maker of ales including Spitfire and Bishops Finger, said it would raise its beer prices in response to rising taxes. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Emma McClarkin, the chief executive of the BBPA, said: 'The cumulative impact of these taxes and regulations is now plain to see and it is highly unfortunate that the only way many pubs can remain viable is to pass on the array of upcoming costs to consumers. 'No one wants to see the cost of an average pint increase by a further 21p and break the £5 average pint barrier that will be required for pubs to maintain their punishingly slim profit margins.' Pubs and the wider hospitality sector have struggled to recover from the impact of enforced closures during the Covid-19 pandemic, which left many with crippling debt burdens. The sector's budding recovery was then hampered by inflation and the accompanying cost of living crisis. The number of pubs fell below 39,000 for the first time in December 2024 after hundreds of closures, according to the property data company Altus Group. 'It is more urgent than ever that government looks at ways to cap or reduce the costs of doing business so we can keep pubs open, preserve their community value and make sure the price of a pint remains affordable for all,' said McClarkin.
