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BUDGET BOMBSHELL
Eye-watering cost of Labour’s National Insurance hike to pubs & restaurants revealed as job cuts loom
Hospitality chiefs said: 'The looming £1billion Budget tax bombshell will bring a real New Year high street hangover'
PUBS and restaurants will have to pay an extra £1billion a year to cover National Insurance rises, stats show.
Industry officials warn it will lead to staff and hours being cut.
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They are now urging Chancellor Rachel Reeves to perform a “Christmas miracle” and scrap the rise — from 13.8 per cent to 15 per cent — before it kicks in next April.
Figures compiled by trade body UKHospitality and given to The Sun on Sunday lay bare how each part of the UK will be hit by the tax grab.
London will be hit hardest and pay £284.7million extra, according to the numbers.
The South East is next at £152million, followed by the South West, North West, then Scotland.
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UKHospitality chief Kate Nicholls said: “The looming £1billion Budget tax bombshell will bring a real New Year high street hangover.
“Eight out of ten say they will have to cut jobs and hours and nine out of ten freezing investment and putting up prices.
"It’s not too late for the Chancellor to think again.”
A Treasury spokesman said: “We took the difficult decisions to ensure stability in the public finances whilst ensuring there was no change to working people’s payslips.”
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