December 17th 2024.
The Black Horse pub, owned by Marston's brewery, located in Cirencester has recently faced a price increase for its drinks. This decision comes as a response to the tax hikes announced in the last Budget. The prices of a pint at this pub have gone up by approximately 10p, although the exact increase varies across different regions. The reasoning behind this decision is that Marston's, like many other businesses, is feeling the pressure of increased business National Insurance contributions. They fear that these additional costs will ultimately be passed on to their customers.
In their latest preliminary results, Marston's reported a profit of £42.1 million before tax, which is a significant increase of 64.5% from last year. However, they also mentioned that the autumn Budget has put further strain on their expenses. A spokesperson from Marston's shared with Sky News, "At Marston's, our priority is to always offer great value and experiences for our guests every day of the week." They also stated that they regularly review their pricing and work hard to minimize the impact of external pressures on both their customers and pub partners.
The decision to raise prices was not taken lightly by Marston's, as they understand the impact it may have on their customers. However, they explained that the cost of doing business in their sector is increasing, and they have no choice but to adjust their prices accordingly. With more than 1,500 pubs across the UK, Marston's is one of the largest pub chains in the country, and this price increase will affect all their draught beer, which is set to go up by approximately 10p per pint.
Interestingly, the Chancellor had announced a reduction in draught duty by 1.7%, which was expected to result in "a penny off a pint in the pub." However, this seems to have had little effect on the overall pricing strategy of major retailers, including Wetherspoon, Greggs, Toby Carvery, Currys, Sainsbury's, Tesco, and Asda. In fact, more than 70 businesses have signed an open letter to the Chancellor, expressing their concerns that the changes in the Autumn budget will inevitably lead to price hikes.
For pub-goers, this news comes as yet another blow, as they are already facing a shortage of Guinness due to an "unprecedented surge in demand." With Marston's being one of the latest pubs to announce price hikes, it is clear that the industry is feeling the impact of the recent Budget. Only time will tell how these price increases will affect the overall pub experience for customers.
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