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- A fish and chips supper could soon cost more than £20, with chippies warning that their prices are set to increase by more than 50 per cent in the next few months.
It comes as takeaway owners have criticised the lack of
support provided to small businesses in today's mini-budget and pleaded with the government to help their struggling industry.
Chancellor Kwasi Kwarteng put forward a series of tax-slashing new measures when he took to the floor
of the House of Commons this morning.
And among the eye-catching announcements was a decision to fix corporation tax at 19 per
cent, while restricting the basic rate of income tax to the
same low figure.
But Steven Dhillon, whose family owns the award-winning
Fisherman's Bay chippie in Whitley Bay, said these measures would do nothing to help his business, which is struggling with the rising costs of fish,
oil and energy.
'We are having to increase our prices,' Mr Dhillon said.
'But also take a lot on our own shoulders. We can't pass it all
on because we attract a lot of return customers
and we have already noticed that fish and chips is becoming a less
frequent meal. It is becoming a once in a blue
moon treat.'
He said that a standard fish and chips supper which a year
ago cost about £8 has now increased to £10.20.
And by January he fears they might have to increase the
price to as much as £16.
[img][/img]
Steven Dhillon, whose family owns the award-winning Fisherman's Bay chippie in Whitley Bay (pictured), said the
price of a standard fish and chips might have to increase from £10.20 to as much as £16 by January because of rising costs
And with many places in the capital already charging £15 for a standard fish and chips, a 50 per cent increase could see Londoners having to pay more
than £20 in a matter of months.
Andrew Crook, president of the National Federation of Fish Friers,
slammed the government today for helping 'bankers, not bakers and financiers, not fish friers'.
Reflecting on today's announcements - which included a commitment to remove caps on city bonuses
- he said the budget had 'missed the mark
completely'.
Mr Cook said: 'This was the opportunity to take the pressure off
small business, because it's not just a job for us,
it's a way of life.
'But they've missed the mark completely with this
budget.
[img][/img]
Fish and chip shop owners have criticised Kwasi Kwarteng's mini-budget today for not doing enough to support the struggling industry (stock image)
'The whole of hospitality was looking for a reduction in VAT and reforms to make sure the system changes going forward, and we've not had.
'And unfortunately, they've looked after bankers
rather than bakers and financiers rather than fish friers.'
Mr Cook, who also owns Skippers chip shop, in Euxton, Lancashire said
he remained hopeful that the government would offer more help later in the autumn.
[img][/img]
Andrew Crook, president of the National Federation of Fish Friers, (pictured) criticised
today's announcements, saying they had failed to take
the pressure off small businesses
But he was concerned that many chip shop owners would go
to the wall over the winter period, after the price of Ambien Cod rocketed by 75 per cent on top
of bills increases.
He said: 'It's easy for bigger businesses to keep acquiring businesses and expanding, but we can't.
We're just about keeping our head above water.
'I was looking forward to planning a promotion to help lift the industry out of where it is now, but we're now expecting
a bleak period after Christmas.'
Richard Coleman Ord, 29, who is the fifth generation in is family to
run his family fish and chip shop said the budget was 'nowhere near' what was needed for
the industry.
He said: 'For small enterprises it's disastrous.
I think there was a huge focus on large businesses and the
growth of the economy through them.
'But on a whole for smaller businesses, it's left us
quite isolated. We've been let down quite badly.'
He added: 'It's alright to reduce tax rates but you have to make money to pay taxes, and there are a lot of
us that won't be in business for much longer.
'It's really, really extremely serious out there, and we need help for the small
family business.
At the moment, we're not receiving any.'
Mr Coleman Ord said he was lucky that his chip shop, Colmans, in South
Shields, had its energy price plan in place for the next 18
months.
But he said rises in the prices of ingredients had still made trading extremely choppy during the
cost of living crises.
He said: 'The potatoes, the fish, the oil, all the commodity prices have gone up beyond
our wildest dreams - even though we've been in business
for 60 years.
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'The only way we could offset that, including energy, would be the reduction in VAT and business rates, like they
did for the pandemic.
'It should be the same for this crisis because to be honest with you,
it's worse than the pandemic.
It's far more serious for businesses than the pandemic ever was.'
Mr Coleman Ord also said measures announced by the government to uncap bankers' bonuses
had left a 'bad taste' in the mouths of many small
businesses.
He said: 'It puts a bad taste in people's mouths.
'I understand the thoughts of it - bringing growth into certain sectors - but again it's targeting large businesses
and higher earners.
'For the majority of people looking for relief and help - if anything - it feels a
little bit thrown in your face, and we feel let down.'
The Chancellor's announcement that he would be lifting the cap
on bankers' bonuses was one of the most politically controversial aspects of his mini-Budget.
Current rules mean that bonuses cannot be more than twice salaries
- which critics say is driving the best talent away from the City.
Scrapping the cap was floated when Boris
Johnson was Prime Minister, before being dropped amid
fears about the optics during a cost-of-living crisis.
But Mr Kwarteng said that all it had done was drive up salaries and hinder London's ability to compete against Paris, Frankfurt and New York.
The Chancellor also announced this morning that he is abolishing the
45p tax rate for around 660,000 people earning over £150,000 - saving
them an average of £10,000 a year each.
The additional rate will be removed from April and means that all annual income above £50,270 will now be
taxed at 40 per cent, the current higher rate of tax.
[img][/img]
Mr Kwarteng's changes to income tax rates next year will see those earning £20,000 a year save £74.30, while those earning £50,000 will save £174.32,
and those on £200,000 will save £2,877.
Apart from cutting income tax, the Chancellor also confirmed today
that he is scrapping the hike in National Insurance contributions in a further boost to employees.
 The 1.25 percentage
point rise was introduced in April by former Chancellor Rishi
Sunak.
But it will now be reversed from 6th November. |
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