Cost of living fears rise as pubs and supermarkets warn of Budget “double whammy”

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery Chancellor Rachel Reeves said her Budget met Labour’s promise not to increase taxes for ‘working people’ Chancellor Rachel Reeves presented her first Budget last week, which, she said, met the Government’s promise not to increase taxes for “working people”. Pubs and restaurant chains have been vocal about the tax increases over the last week, with Wetherspoon chief Tim Martin saying he believes “all hospitality businesses” are planning to pass on higher costs through price rises. He said on Wednesday: “Cost inflation, which had jumped to elevated levels in 2022, slowly abated in the following two years, but has now jumped substantially again following the Budget.” open image in gallery Wetherspoon chief Tim Martin said he believes ‘all hospitality businesses’ are planning price rises following the Budget Last week, Chris Jowsey, chief executive of Admiral Taverns, which has more than 1,420 pubs across the UK, said the measures will cost the sector “significantly”. And last week, Irish airline Ryanair said it plans to cut flights to and from UK airports by 10% next year following Labour’s decision to increase the tax on airline tickets.