Following statistics released by CGA NeilsonIQ highlighting that licensed premises serving alcohol in Britain has dropped below 100,000 for the first time since records began.
Michael Kill, CEO of NTIA, expresses concern about the dire state of the sector, stating, “The data unequivocally illustrates the sector’s catastrophic predicament, with a growing number of closures over the past year throughout the United Kingdom.”
He goes on to mention, “Frustration and anger are mounting among industry leaders and business owners within the sector. The government and the Chancellor’s persistent focus on reducing inflation through long-term strategies, despite the lack of tangible results, will inevitably impact a general election due to the perceived ignorance on their part.”
Kill emphasises the urgency of the situation, saying, “We are running out of time, and the feeling of being disregarded is taking its toll. To ensure the survival of these businesses, the Chancellor must extend business rates relief and reduce VAT to 12.5%. This is a matter of survival, not profit.”
The Times article:
https://www.thetimes.co.uk/article/britains-pubs-and-bars-fall-below-100-0000-for-the-first-time
