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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: Jobs.drupal.org '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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