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"While it encouraging to see insolvency rates decrease, we know that big name brands are struggling and the outlook for 2026 is far from rosy. Retailers and hospitality businesses who had hoped for more support from the Autumn Budget are now facing increased uncertainty. It seems as though the New Year may already see another Government U-turn, this time backing down on plans to scrap business rates relief for pubs that has been in force since the pandemic."
John Vincent said the upcoming rises in business rates along with overall cost increases means the High Street is no longer as profitable. Leon has been losing 10m a year. Vincent, an original co-founder of the chain, bought the company back from Asda last year. But last month the firm appointed administrators and announced a major restructuring of its 71 restaurants, which employ 1,000 people.
We have a history of looking after senior party members on both sides but I fully support this latest initiative. I feel the lives of Labour MPs should be hindered and diminished like they are doing to ours. I don't think they are all evil. Most are just naive and ideologically stupid. If the entire country refuses to do business with them perhaps they will get the message.
Wage rises, holiday taxes and monumental increases in rateable values have put even further pressure on hospitality businesses, as a result of this Budget. A 5p business rates discount is simply not enough to offset these costs and redress the damage it will do to business viability and job opportunities. This is exactly why we called for the government to use the maximum possible discount it had the power to implement, which could have genuinely delivered lower business rates.
James Fitzgerald, landlord of the Thatched House in Hammersmith, said his costs have risen by 22,000 over the past year - with the increase in National Insurance a major factor. He said he had already cut his own wage, reduced staff hours, and trimmed other running costs, and there was no more room to make savings. "If it goes up again, eventually I'll end up doing it for free and then I'll have to pull out. There's no way to survive."
While overall footfall fell for the sixth consecutive month, there was some good news on High Streets, which saw positive shopper traffic after a disappointing September. With consumer confidence remaining weak ahead of the possibility of a tax-raising Budget, many households have stayed away from shopping centres and retail parks. However, a Friday Halloween brought some welcome relief, delivering a late-month boost for retailers.
