Commenting on today’s Budget Will Hawkley, Head of Leisure at KPMG in the UK said:
“Today’s announcement will have independent publicans beaming from ‘beer to ear’ as alcohol duty is frozen and business rates are set to be slashed by a third for businesses with a rateable value of less than £50,000.
“The Great British Pub industry has had a tough few years which has seen a number of closures across the country. However we have seen a return to favour of wet-led pubs recently, with a particular focus on craft, local and small batch drinks, many of which are produced by yet more UK small businesses.
“Venues which are not part of a chain and are an integral part of their community, providing local jobs, local supply chain and a hub for the surrounding area, are set to benefit most from this. This benefit is likely to be paid forward to punters allowing the cycle of trade to continue and hopefully flourish.”
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Angela Pink, KPMG Corporate Communications
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff. The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and territories and has 200,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.