Norfolk brewer urges government to use 'windfall tax' to help small businesses
Chancellor Jeremy Hunt increased this levy to 35% during yesterday's Autumn budget
Last updated 18th Nov 2022
A Norfolk brewer is urging the Government to use the money generated by the uprated 'windfall tax', to support small businesses through the winter.
It comes after Chancellor Jeremy Hunt raised this levy on oil and gas companies by 10% to 35%- to tackle inflation and fund investment in public services.
"The cash reserves for many small businesses just aren't there"
David Holliday is the owner of Moon Gazer Ale in Hindringham.
"If businesses have to start laying people off that's going to hurt the government as well, if unemployment rises and benefits rises, as well. We are not just crying 'give us help', it's a sensible economic decision not to let businesses fail".
"We are coming out the back of two years of Covid where hospitality was pretty much shut for the whole of that time. So, the cash reserves for many small businesses just aren't there to support them through this time. The message I'm hearing from pubs is we just want to get through to March and hopefully the tills will start ringing again, next summer".
"That's another £500 that people will have to find"
He says they need the Government's help to prevent a winter of low footfall:
"We have seen a big uptick in footfall since Halloween where I think there was a general consensus of let's just start going out again. That has continued and we are seeing some good news there. The challenge will be when we reach January and February, the darker months, that's where pubs and brewers are using more energy and spending more. We just need that consumer confidence to last as long as it can".
"The taxes rises mean there is going to be an increase for all our consumers and staff, alike. That's another £500 that people will have to find out of their already squeezed wages. From a business point of view, we have no clarity, all we know is that we will find out in two months' time. We just need to know what that support is going to be"
What has the Government said?
Prime Minister Rishi Sunak and Chancellor Jeremy Hunt say tackling the cost-of-living crisis and stabilising the economy is their top priority.