Wetherspoon says prices will go up in its pubs thanks to Budget

The boss of Wetherspoon has warned that prices in the pub chain will have to rise following the autumn Budget, as he said the company's tax bill is set to jump by two thirds next year. Tim Martin, the chairman and founder of Wetherspoon, said: “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.

“All hospitality businesses, we believe, plan to increase prices, as a result. Wetherspoon will, as always, make every attempt to stay as competitive as possible.”

Tax and business costs are expected to increase by about £60 million over the next tax year, Wetherspoon said, including an estimated 67% increase in national insurance contributions.

The group, which runs nearly 800 pubs across the UK, said its sales grew by about 6% in the 14 weeks to November 3, compared with the same period last year.