Fuller's Faces Price Hikes Amid Budget Changes

Fuller’s, a major UK pub chain, has announced that it may increase the price of a pint by up to 40p due to the recent Budget, which raised employer national insurance contributions. This measure, criticized by Fuller's CEO Simon Emeny as counterproductive to growth, impacts labor-intensive industries and could lead to price hikes across the hospitality sector. The company faces an additional £8 million in costs from both the national insurance contribution changes and a planned minimum wage increase. Other pub chains, such as Wetherspoons, echo similar concerns about cost inflation and plan to raise prices. The UKHospitality trade body warned of significant economic pressures totaling £3.4 billion due to the Budget changes, potentially leading to slowed wage growth and job losses. Despite these challenges, Emeny emphasizes the need to maintain service quality and criticizes the Government's approach as detrimental to economic stimulation.