RE: Positive RNS24 Jan 2025 15:23
Outlook
What Tim should have said is - The Posh-Snob, Ratty Reeves does not give a "fig" for Working People or Pensioners. Posh-Snob is the least qualified to be in No11 since The Clown Brown, who sold off our Gold Reserves @ a knock-down price - She is a bigger Banana than Millibans
Wetherspoon chairman Tim Martin said:
"From 1 April 2025 labour-related costs at Wetherspoon will increase by around £60 million per annum.
"Government-mandated wage increases have a significantly bigger impact on pub and restaurant companies than supermarkets.
"As previously highlighted, supermarkets pay no VAT in respect of food sales, whereas pubs pay 20%. This tax advantage allows supermarkets to subsidise the price of beer they sell.
"A direct consequence, as Morgan Stanley have recently calculated (please see appendix 2), is that beer volumes in the on-trade (mainly pubs, clubs and restaurants) have decreased by an incredible 52% between 2000 and 2023.
"It is a clear principle of taxation that taxes should be fair and equitable, as between different types of companies. The VAT distortions that exist today will inevitably create more supermarkets and less pubs.
"Given the public's love of pubs, the only possible explanation for this tax discrepancy is that prime ministers and other legislators, in the 45 years since Wetherspoon started trading, have been dinner party goers, rather than pub goers.
"Food at dinner parties is VAT-free, subsidised by the legendary "man on the Clapham omnibus", who has fish and chips at his local pub.
"Wetherspoon therefore calls upon Sir Kier Starmer to redress this imbalance, thereby striking a blow for tax equality and ending discrimination in favour of dull (yawn, yawn) dinner parties.
"The company is confident of a reasonable outcome for the year, although forecasting is more difficult, given the extent of the increased costs."Outlook
Wetherspoon chairman Tim Martin said:
"From 1 April 2025 labour-related costs at Wetherspoon will increase by around £60 million per annum.
"Government-mandated wage increases have a significantly bigger impact on pub and restaurant companies than supermarkets. Please see an article on this subject in a recent edition of pub-trade publication, Propel (appendix 1).
"As previously highlighted, supermarkets pay no VAT in respect of food sales, whereas pubs pay 20%. This tax advantage allows supermarkets to subsidise the price of beer they sell.
"It is a clear principle of taxation that taxes should be fair and equitable, as between different types of companies. The VAT distortions that exist today will inevitably create more supermarkets and less pubs.
"Given the public's love of pubs, the only possible explanation for this tax discrepancy is that prime ministers and other legislators, in the 45 years since Wetherspoon started trading, have been dinner party goers, rather than pub goers.
"Food at dinner parties is VAT-Free
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