Pubs contribute £23bn to UK
A report published by Oxford Economics has found that the beer and pub industry in Britain is a major contributor to the British economy. With employment rising, thanks to many beer duty cuts of late, the question is; how will the pub industry sustain this going into Brexit Britain without further tax concessions?
The report highlights the substantial benefits the industry brings to the national economy, with data showing that brewing alone sustain more than 100,000 jobs and almost 800,000 jobs are supported by more than 49,000 pubs across Britain.
Analysists looking into the report confirm that the UK beer and pub sector continues to be an important source of employment and output at a national and local level. Its activity generates a significant amount of tax contributions, investment and opportunities for young people to enter the labour market.
It was reports that Brigid Simmonds, BBPA chief executive said – three historic beer duty cuts since 2013 have brought huge benefits, created jobs and encouraged investment, but our rate of duty is still many times higher than that of our neighbouring countries. Adding to this she believes a tax system designed to encourage investment will be especially important in the wake of the EU market and uncertainty of Brexit. The report found that Britons currently pay 40 percent of all EU beer duties, despite drinking just 12 percent of beer in the sector.
So the questions still stands: how will the pub industry sustain going into Brexit Britain without further tax concessions???
Also lets us not forget the social impact that our pubs and clubs have up and down the UK!
long live our wonderful watering holes (: