UK pub owner plans price hike after budget raises taxes and costs

The owner of the Waggon and Horses pub in Oldbury plans to raise prices early next year due to a recent UK budget that increased taxes to historic levels. Currently, all pints are priced at £2.40, but rising National Insurance and minimum wage costs threaten this model. Mike Westwood, who transformed the pub by adopting a budget supermarket approach, has seen customer numbers rise significantly. However, he now faces pressure from increased operational costs, which could lead to price hikes across the hospitality industry. Other pub chains, like Wetherspoon, also anticipate substantial cost increases, with estimates of an additional £60 million in expenses next year. Business leaders have expressed concerns about the impact of these changes on the hospitality sector.